McCormick & Company, Incorporated (MKC) Receives Average Rating of “Hold” from Analysts

Shares of McCormick & Company, Incorporated (NYSE:MKC) have been assigned a consensus rating of “Hold” from the eleven analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $106.75.

A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. UBS boosted their target price on McCormick & Company, Incorporated from $100.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $103.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, January 26th. Jefferies Group reiterated a “buy” rating and issued a $120.00 target price on shares of McCormick & Company, Incorporated in a research report on Thursday, January 25th. Finally, Deutsche Bank downgraded McCormick & Company, Incorporated from a “hold” rating to a “sell” rating and decreased their target price for the stock from $103.00 to $98.00 in a research report on Friday, January 19th.

McCormick & Company, Incorporated (NYSE:MKC) traded down $1.16 during trading hours on Friday, hitting $107.81. The company had a trading volume of 1,279,468 shares, compared to its average volume of 1,059,597. The company has a quick ratio of 0.42, a current ratio of 0.83 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $14,494.97, a P/E ratio of 29.14, a P/E/G ratio of 2.39 and a beta of 0.61. McCormick & Company, Incorporated has a 12 month low of $90.25 and a 12 month high of $111.46.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 25th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. McCormick & Company, Incorporated had a return on equity of 25.30% and a net margin of 9.88%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 earnings per share. equities research analysts predict that McCormick & Company, Incorporated will post 4.88 earnings per share for the current year.

In other McCormick & Company, Incorporated news, VP Michael R. Smith sold 2,575 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $107.96, for a total transaction of $277,997.00. Following the sale, the vice president now directly owns 17,312 shares of the company’s stock, valued at $1,869,003.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patricia A. Little sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $108.63, for a total value of $678,937.50. Following the sale, the director now directly owns 15,497 shares in the company, valued at $1,683,439.11. The disclosure for this sale can be found here. Insiders own 19.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chemical Bank bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $251,000. Xact Kapitalforvaltning AB grew its stake in shares of McCormick & Company, Incorporated by 7.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 29,316 shares of the company’s stock valued at $2,988,000 after buying an additional 2,121 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of McCormick & Company, Incorporated by 21.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 24,244 shares of the company’s stock valued at $2,471,000 after buying an additional 4,358 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of McCormick & Company, Incorporated by 13.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 77,989 shares of the company’s stock valued at $7,948,000 after buying an additional 9,217 shares during the last quarter. Finally, We Are One Seven LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $393,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

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About McCormick & Company, Incorporated

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

Analyst Recommendations for McCormick & Company, Incorporated (NYSE:MKC)

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