UBS Group Initiates Coverage on McCormick & Company, Incorporated (NYSE:MKC)

Investment analysts at UBS Group assumed coverage on shares of McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) in a note issued to investors on Monday, MarketBeat reports. The firm set a "neutral" rating and a $83.00 price target on the stock. UBS Group's target price indicates a potential upside of 12.27% from the company's previous close.

Separately, Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average price target of $85.14.

McCormick & Company, Incorporated Trading Down 2.5%

McCormick & Company, Incorporated stock opened at $73.93 on Monday. The firm has a 50 day moving average of $74.53 and a 200 day moving average of $76.98. The firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 3.76 and a beta of 0.68. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the firm posted $0.63 EPS. The firm's quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the sale, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares of the company's stock, valued at $184,497.72. The trade was a 54.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,392 shares of company stock worth $4,898,101. Insiders own 23.80% of the company's stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $223,202,000. Alyeska Investment Group L.P. lifted its holdings in McCormick & Company, Incorporated by 1,360.5% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company's stock valued at $129,647,000 after buying an additional 1,467,254 shares in the last quarter. Select Equity Group L.P. bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at about $104,863,000. T. Rowe Price Investment Management Inc. boosted its position in McCormick & Company, Incorporated by 28.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company's stock valued at $340,406,000 after buying an additional 920,618 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in McCormick & Company, Incorporated by 47.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company's stock worth $216,771,000 after acquiring an additional 915,807 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

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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