McCormick & Company, Incorporated (NYSE:MKC) Coverage Initiated at UBS Group

UBS Group assumed coverage on shares of McCormick & Company, Incorporated (NYSE:MKC – Get Rating) in a report published on Friday, The Fly reports. The firm issued a sell rating and a $71.00 price target on the stock.

A number of other research firms have also recently issued reports on MKC. Sanford C. Bernstein upgraded McCormick & Company, Incorporated from a market perform rating to an outperform rating and set a $90.00 target price on the stock in a research report on Friday, January 27th. Exane BNP Paribas assumed coverage on McCormick & Company, Incorporated in a report on Tuesday, November 15th. They set an outperform rating and a $94.00 price target on the stock. BNP Paribas assumed coverage on McCormick & Company, Incorporated in a report on Tuesday, November 15th. They set an outperform rating and a $94.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $66.00 to $63.00 and set an underweight rating on the stock in a report on Friday, January 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on McCormick & Company, Incorporated from $83.00 to $74.00 and set a hold rating on the stock in a report on Friday, January 27th. Two investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $81.14.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $70.95 on Friday. McCormick & Company, Incorporated has a 12-month low of $70.69 and a 12-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 business’s 50-day moving average price is $76.84 and its two-hundred day moving average price is $79.24. The stock has a market cap of $19.02 billion, a PE ratio of 28.15, a P/E/G ratio of 3.93 and a beta of 0.56.

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last released its earnings results on Thursday, January 26th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.13). McCormick & Company, Incorporated had a net margin of 10.74% and a return on equity of 14.76%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. The business’s revenue was down 2.0% on a year-over-year basis. As a group, analysts expect that McCormick & Company, Incorporated will post 2.61 earnings per share for the current fiscal year.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 38,137 shares of the company’s stock, valued at $2,860,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 19.00% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of institutional investors have recently modified their holdings of MKC. Washington Trust Advisors Inc. bought a new stake in McCormick & Company, Incorporated during the third quarter worth $26,000. Evermay Wealth Management LLC grew its stake in McCormick & Company, Incorporated by 412.8% in the 3rd quarter. Evermay Wealth Management LLC now owns 400 shares of the company’s stock valued at $29,000 after purchasing an additional 322 shares during the period. Align Wealth Management LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at $29,000. Compagnie Lombard Odier SCmA bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at $31,000. Finally, OLD Mission Capital LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at $43,000. 79.15% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Company Profile

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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.