McCormick & Company (MKC) Upgraded to “Buy” by ValuEngine

McCormick & Company (NYSE:MKC) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other research firms have also issued reports on MKC. Credit Suisse Group increased their price target on shares of McCormick & Company from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group increased their price target on shares of McCormick & Company from $106.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 28th. Zacks Investment Research lowered shares of McCormick & Company from a “buy” rating to a “hold” rating in a research report on Friday, April 6th. Citigroup increased their price target on shares of McCormick & Company from $113.00 to $114.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 28th. Finally, Sanford C. Bernstein increased their price target on shares of McCormick & Company from $113.00 to $118.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. McCormick & Company presently has a consensus rating of “Hold” and a consensus price target of $114.25.

McCormick & Company opened at $115.68 on Monday, Marketbeat.com reports. McCormick & Company has a 12-month low of $90.25 and a 12-month high of $117.82. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.85 and a quick ratio of 0.42. The stock has a market capitalization of $15.22 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 2.62 and a beta of 0.56.

McCormick & Company (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.09. McCormick & Company had a net margin of 15.83% and a return on equity of 21.98%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. equities analysts predict that McCormick & Company will post 4.92 EPS for the current fiscal year.

In other news, Director Alan D. Wilson sold 158,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 28th. The shares were sold at an average price of $110.00, for a total transaction of $17,446,000.00. Following the completion of the sale, the director now owns 212,894 shares of the company’s stock, valued at $23,418,340. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 19.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MKC. Clearbridge Investments LLC increased its holdings in shares of McCormick & Company by 41.5% during the fourth quarter. Clearbridge Investments LLC now owns 4,455,263 shares of the company’s stock worth $454,036,000 after buying an additional 1,306,536 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of McCormick & Company during the first quarter worth approximately $45,205,000. Summit Trail Advisors LLC increased its holdings in shares of McCormick & Company by 10,866.4% during the first quarter. Summit Trail Advisors LLC now owns 265,277 shares of the company’s stock worth $265,000 after buying an additional 262,858 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of McCormick & Company by 19.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,391,100 shares of the company’s stock worth $141,767,000 after buying an additional 229,900 shares in the last quarter. Finally, Select Equity Group L.P. acquired a new stake in shares of McCormick & Company during the first quarter worth approximately $22,839,000. 78.36% of the stock is owned by institutional investors.

About McCormick & Company

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

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Analyst Recommendations for McCormick & Company (NYSE:MKC)

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