McCormick & Company, Incorporated (NYSE:MKC) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of McCormick & Company, Incorporated (NYSE:MKC – Get Rating) in a report released on Thursday. The brokerage set a “hold” rating on the stock.

Several other research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McCormick & Company, Incorporated from $83.00 to $74.00 and set a “hold” rating on the stock in a research report on Friday, January 27th. Sanford C. Bernstein upgraded shares of McCormick & Company, Incorporated from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Friday, January 27th. JPMorgan Chase & Co. dropped their price target on shares of McCormick & Company, Incorporated from $66.00 to $63.00 and set an “underweight” rating on the stock in a research report on Friday, January 27th. Finally, UBS Group began coverage on shares of McCormick & Company, Incorporated in a research report on Friday, March 10th. They set a “sell” rating and a $71.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $81.14.

McCormick & Company, Incorporated Stock Down 0.9 %

Shares of NYSE MKC traded down $0.63 during trading on Thursday, reaching $72.62. 2,680,300 shares of the stock were exchanged, compared to its average volume of 1,363,181. The business’s 50-day moving average price is $75.65 and its 200 day moving average price is $78.85. McCormick & Company, Incorporated has a twelve month low of $70.60 and a twelve month high of $105.19. The company has a quick ratio of 0.30, a current ratio of 0.70 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $19.47 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 3.98 and a beta of 0.56.

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.13). The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.77 billion. McCormick & Company, Incorporated had a net margin of 10.74% and a return on equity of 14.76%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $75.00, for a total transaction of $375,000.00. Following the completion of the sale, the director now owns 38,137 shares in the company, valued at $2,860,275. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 19.00% of the stock is currently owned by corporate insiders.

Institutional Trading of McCormick & Company, Incorporated

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in McCormick & Company, Incorporated by 35.0% in the 4th quarter. Victory Capital Management Inc. now owns 205,420 shares of the company’s stock worth $17,027,000 after acquiring an additional 53,299 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in McCormick & Company, Incorporated by 1.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 99,719 shares of the company’s stock valued at $8,265,000 after buying an additional 1,345 shares in the last quarter. OLD Mission Capital LLC bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at approximately $43,000. North Star Asset Management Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $209,000. Finally, Lakewood Asset Management LLC bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $182,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

About McCormick & Company, Incorporated

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McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.