Shares of McCormick & Company Incorporated (MKC) Sees Large Outflow of Money

McCormick & Company Incorporated (MKC) : Money flow in the McCormick & Company Incorporated (MKC) stock was negative (14.46 million) on Tuesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $4.92 million, compared to $19.38 million on downticks. The total uptick to downtick ratio was 0.25, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($14.96 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $14.96 million, indicating persistent selling. McCormick & Company Incorporated (MKC) traded $0.9 higher at $102.2 gaining 0.89% over the previous days close.


Also, Equity Analysts at the Citigroup upgrades the rating on McCormick & Company Incorporated (NYSE:MKC). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Sell. The Analysts at the ratings agency raises the price target from $85 per share to $102 per share. The rating by the firm was issued on June 23, 2016.

McCormick & Company, Incorporated has lost 1.02% in the last five trading days and dropped 0.79% in the last 4 weeks. McCormick & Company, Incorporated is up 4.65% in the last 3-month period. Year-to-Date the stock performance stands at 19.47%.

McCormick & Company Incorporated (NYSE:MKC): The stock opened at $101.92 on Tuesday but the bulls could not build on the opening and the stock topped out at $102.18 for the day. The stock traded down to $101.12 during the day, due to lack of any buying support eventually closed down at $101.37 with a loss of -0.81% for the day. The stock had closed at $102.20 on the previous day. The total traded volume was 314,403 shares.

In a related news, The Securities and Exchange Commission has divulged that Stetz Gordon Mckenzie Jr, director officer (Executive Vice President & CFO) of Mccormick & Co Inc, had unloaded 38,900 shares at an average price of $105.17 in a transaction dated on July 13, 2016. The total value of the transaction was worth $4,091,113.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.