McCormick & Company, Incorporated (NYSE:MKC) Upgraded to "Buy" at Argus

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) was upgraded by Argus from a "hold" rating to a "buy" rating in a research report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a $88.00 price objective on the stock. Argus' price target would indicate a potential upside of 12.43% from the stock's previous close.

A number of other analysts also recently issued reports on the stock. Barclays boosted their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an "equal weight" rating in a report on Thursday, March 28th. Stifel Nicolaus boosted their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a "hold" rating in a report on Wednesday, March 27th. Citigroup boosted their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a "sell" rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. cut their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an "underweight" rating for the company in a report on Friday, January 26th. Finally, Consumer Edge downgraded shares of McCormick & Company, Incorporated from an "overweight" rating to an "equal weight" rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $77.88.

McCormick & Company, Incorporated Stock Performance

MKC traded up $1.65 on Tuesday, reaching $78.27. The company had a trading volume of 3,727,897 shares, compared to its average volume of 2,196,168. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The stock has a market cap of $21.00 billion, a P/E ratio of 29.87, a P/E/G ratio of 3.97 and a beta of 0.74. The company's fifty day moving average is $68.66 and its 200 day moving average is $67.62. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the business earned $0.59 EPS. McCormick & Company, Incorporated's quarterly revenue was up 2.4% on a year-over-year basis. As a group, analysts predict that McCormick & Company, Incorporated will post 2.83 earnings per share for the current fiscal year.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the transaction, the director now owns 5,594 shares of the company's stock, valued at approximately $430,738. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the sale, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maritza Gomez Montiel sold 7,000 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares in the company, valued at approximately $430,738. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,000 shares of company stock valued at $2,376,400. Company insiders own 22.90% of the company's stock.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds have recently added to or reduced their stakes in the stock. Union Savings Bank bought a new position in shares of McCormick & Company, Incorporated during the second quarter valued at $27,000. Legacy Financial Group LLC bought a new position in shares of McCormick & Company, Incorporated during the third quarter valued at $29,000. Anchor Investment Management LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $36,000. VisionPoint Advisory Group LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $44,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of McCormick & Company, Incorporated during the first quarter valued at $44,000. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.