McCormick & Company, Incorporated (NYSE: MKC) received a number of ratings updates from brokerages and research firms in the last week:

  • McCormick & Company, Incorporated had its “buy” rating reaffirmed by analysts at Deutsche Bank. They now have a $66.00 price target on the stock.
  • McCormick & Company, Incorporated had its price target raised by analysts at Jefferies Group from $67.00 to $70.00. They now have a “buy” rating on the stock. They wrote, “MKC raised its FY12 guidance by 2¢ today, but it was for the wrong reasons (taxes) and the underlying guidance was lowered by 4¢. This creates an entry point into one of the strongest names in our packaged food universe. We do not think that MKC’s story is broken but rather think that mgmt is prudently cautious. MKC’s products fit demographic trends and the organic growth remains better than that of most peers. Reiterating Buy.”
  • McCormick & Company, Incorporated had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $65.00 price target on the stock. Zacks‘ analyst wrote, “McCormick’s third quarter 2012 earnings of $0.78 per share beat the Zacks Consensus Estimate by 2.6%. It surpassed the prior-year quarter’s earnings by 13% on the back of favorable operating income and tax rate. Sales grew 6%, largely benefiting from acquisitions. Moreover robust sales and cost savings measures drove the operating income. We are encouraged by the company’s effort to launch new products, invest in brand marketing and measure to save costs. The company is cash rich and has a strong international presence. However, we remain cautious due to the difficult global economic condition and material cost pressures. Thus, we prefer to remain Neutral on the stock.”
  • McCormick & Company, Incorporated had its price target raised by analysts at Credit Suisse to $61.00. They now have a “neutral” rating on the stock.
  • McCormick & Company, Incorporated had its “neutral” rating reaffirmed by analysts at JPMorgan Chase. They now have a $67.00 price target on the stock.
  • McCormick & Company, Incorporated had its “neutral” rating reaffirmed by analysts at Janney Montgomery Scott. They now have a $59.00 price target on the stock.
  • McCormick & Company, Incorporated is now covered by analysts at Wellington Shields. They set a “buy” rating on the stock. They wrote, “We are initiating coverage of MKC with a Buy rating and a price target of 74, suggesting upside of 18% and total return of 20%. McCormick, a leading provider of spices and seasonings for consumer and industrial customers, has a long history of growth. We estimate that sales and earnings can grow at 11% for at least the next five years, with a boost from recent strategic acquisitions in emerging markets.”

McCormick & Company, Incorporated opened at 62.71 on Friday. McCormick & Company, Incorporated has a 52-week low of $46.28 and a 52-week high of $63.91. The company has a market cap of $8.310 billion and a price-to-earnings ratio of 21.58.

McCormick & Company, Incorporated (McCormick) manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, retail outlets, food manufacturers and foodservice businesses.