McCormick & Company Incorporated (MKC) has been under a strong bear grip, hence the stock is down -2.68% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.11% in the past 1 week. The stock has risen by 0.08% in the past week indicating that the buyers are active at lower levels, but the stock is down -2.3% in the past 4 weeks.
McCormick & Company, Incorporated is up 7.02% in the last 3-month period. Year-to-Date the stock performance stands at 20.05%. The stock has recorded a 20-day Moving Average of 0.19% and the 50-Day Moving Average is 0.49%.
McCormick & Company Incorporated (NYSE:MKC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $101.34 and $100.89 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $101.87. The buying momentum continued till the end and the stock did not give up its gains. It closed at $101.86, notching a gain of 0.39% for the day. The total traded volume was 513,301 . The stock had closed at $101.46 on the previous day.
Also, Major Brokerage house, Citigroup upgrades its ratings on McCormick & Company Incorporated (NYSE:MKC). In the latest research report, Citigroup raises the target price from $85 per share to $102 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. Previously, the analysts had a Sell rating on the shares. The rating by the firm was issued on June 23, 2016.
McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry. The Company has two business segments: consumer and industrial. Under the Consumer segment, its brands in the Americas include McCormick, Lawrys and Club House. It also markets ethnic brands, such as Zatarains, Thai Kitchen and Simply Asia. In Europe, the Middle East and Africa (EMEA), its brands include the Ducros, Schwartz and Kamis brands of spices, herbs and seasonings, and a line of Vahine brand dessert items. In the Asia/Pacific region, it markets products under the McCormick and DaQiao brands. In Australia, it markets products under the McCormick brand. In India, its majority-owned joint venture owns and trades under the Kohinoor brand. In the industrial business segment, it offers seasoning blends, spices and herbs, condiments, coating systems and compound flavors to food manufacturers and foodservice customers.