McCormick & Company, Incorporated (MKC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of McCormick & Company, Incorporated (NYSE:MKC) have been given an average recommendation of “Hold” by the eleven brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $106.75.

Several equities analysts have issued reports on MKC shares. Zacks Investment Research cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Credit Suisse Group set a $115.00 target price on shares of McCormick & Company, Incorporated and gave the company a “buy” rating in a research note on Tuesday, December 12th. Deutsche Bank cut shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating and lowered their target price for the company from $103.00 to $98.00 in a research note on Friday, January 19th. Jefferies Group restated a “buy” rating and set a $120.00 target price on shares of McCormick & Company, Incorporated in a research note on Thursday, January 25th. Finally, Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $103.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, January 26th.

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McCormick & Company, Incorporated (NYSE:MKC) opened at $110.54 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.42 and a current ratio of 0.83. The stock has a market cap of $14,600.00, a PE ratio of 29.80, a price-to-earnings-growth ratio of 2.37 and a beta of 0.61. McCormick & Company, Incorporated has a one year low of $90.25 and a one year high of $110.57.

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

In other news, VP Michael R. Smith sold 2,575 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $107.96, for a total value of $277,997.00. Following the transaction, the vice president now owns 17,312 shares in the company, valued at approximately $1,869,003.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patricia A. Little sold 6,250 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $108.63, for a total transaction of $678,937.50. Following the completion of the transaction, the director now owns 15,497 shares in the company, valued at approximately $1,683,439.11. The disclosure for this sale can be found here. 19.20% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. increased its holdings in McCormick & Company, Incorporated by 81.9% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock worth $167,208,000 after acquiring an additional 733,375 shares in the last quarter. Twin Capital Management Inc. purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth approximately $930,000. Toronto Dominion Bank increased its holdings in McCormick & Company, Incorporated by 16.5% in the 3rd quarter. Toronto Dominion Bank now owns 45,867 shares of the company’s stock worth $4,708,000 after acquiring an additional 6,505 shares in the last quarter. Clifford Swan Investment Counsel LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth approximately $459,000. Finally, Oppenheimer & Co. Inc. increased its holdings in McCormick & Company, Incorporated by 4.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 41,323 shares of the company’s stock worth $4,241,000 after acquiring an additional 1,698 shares in the last quarter. Hedge funds and other institutional investors own 78.93% of the company’s stock.

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McCormick & Company, Incorporated Company Profile

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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