McCormick & Company, Incorporated (NYSE:MKC) Receives $64.27 Consensus PT from Brokerages

Shares of McCormick & Company, Incorporated (NYSE:MKC) have received a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $64.2727.

A number of research analysts have commented on the stock. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Zacks Research cut shares of McCormick & Company, Incorporated from a “hold” rating to a “strong sell” rating in a research report on Monday, March 9th. JPMorgan Chase & Co. cut their target price on shares of McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Finally, Sanford C. Bernstein cut their target price on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th.

Insider Transactions at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $67.43, for a total value of $3,371,500.00. Following the transaction, the insider owned 246,762 shares in the company, valued at approximately $16,639,161.66. This trade represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $67.92, for a total transaction of $339,600.00. Following the completion of the transaction, the director owned 43,029 shares in the company, valued at $2,922,529.68. This represents a 10.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 115,000 shares of company stock worth $7,947,300. Insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rafferty Asset Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 0.7% in the third quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock worth $1,443,000 after purchasing an additional 157 shares during the last quarter. Ransom Advisory Ltd grew its holdings in shares of McCormick & Company, Incorporated by 3.6% in the fourth quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock worth $315,000 after purchasing an additional 160 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in McCormick & Company, Incorporated by 67.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after acquiring an additional 164 shares during the period. Glen Eagle Advisors LLC lifted its stake in McCormick & Company, Incorporated by 42.5% in the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock worth $39,000 after acquiring an additional 170 shares during the period. Finally, Van ECK Associates Corp lifted its stake in McCormick & Company, Incorporated by 10.5% in the fourth quarter. Van ECK Associates Corp now owns 1,795 shares of the company’s stock worth $122,000 after acquiring an additional 171 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 4.0%

Shares of NYSE MKC opened at $50.81 on Friday. McCormick & Company, Incorporated has a one year low of $47.52 and a one year high of $78.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.28. The firm’s 50 day simple moving average is $61.95 and its two-hundred day simple moving average is $64.77. The stock has a market capitalization of $13.64 billion, a P/E ratio of 8.33, a PEG ratio of 2.40 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 16.7% on a year-over-year basis. As a group, analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.