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Recent 52-Week High Exceeded in Shares of McCormick & Co (MKC)

By James Quinn

McCormick & Co (NYSE:MKC) traded at a new 52-week high today of $103.41. This new high was reached on below average trading volume as 127,000 shares traded hands, while the average 30-day volume is approximately 981,000 shares.

McCormick & Co (NYSE:MKC) is currently priced 18.8% above its average consensus analyst price target of $83.83. The stock should find initial support at its 50-day moving average (MA) of $95.36 and further support at its 200-day MA of $86.77.

McCormick & Company, Inc. manufactures, markets, and distributes flavor products (including spices, herbs, extracts, seasonings and flavorings) and other specialty food products to the food industry. The Company sells to retail stores, food manufacturers, and food service businesses.

In the past 52 weeks, McCormick & Co share prices have been bracketed by a low of $75.19 and a high of $103.41 and are now at $103.23, 37% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that subscribers consider buying shares of McCormick & Co on May 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $96.35. Since that recommendation, shares of McCormick & Co have risen 5.9%. We continue to monitor MKC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows mccormick & co

Ticker(s): MKC