McCormick & Company, Incorporated (NYSE:MKC) Rating Increased to Hold at Wall Street Zen

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Several other research analysts have also recently commented on the company. UBS Group began coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 target price for the company. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Citigroup decreased their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $84.13.

McCormick & Company, Incorporated Trading Down 1.7%

Shares of NYSE MKC opened at $75.28 on Friday. McCormick & Company, Incorporated has a twelve month low of $69.00 and a twelve month high of $86.24. The stock has a market capitalization of $20.20 billion, a PE ratio of 26.14, a PEG ratio of 3.61 and a beta of 0.68. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $74.41 and a 200-day simple moving average of $76.54.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the previous year, the firm posted $0.69 EPS. McCormick & Company, Incorporated's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Transactions at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is owned by company insiders.

Institutional Trading of McCormick & Company, Incorporated

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Analysts LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $28,000. Wayfinding Financial LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $30,000. Salem Investment Counselors Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after purchasing an additional 336 shares during the last quarter. Finally, Curio Wealth LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $30,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

About McCormick & Company, Incorporated

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.

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