McCormick & Company, Incorporated (NYSE:MKC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

McCormick & Company, Incorporated (NYSE:MKC) has been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $83.75.

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. upped their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Barclays cut their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $80.35 on Tuesday. The business’s 50-day moving average is $78.58 and its two-hundred day moving average is $78.87. The company has a market capitalization of $21.54 billion, a P/E ratio of 27.42, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. 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 Margaret M. V. Preston sold 28,092 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of hedge funds have recently modified their holdings of MKC. Wellington Management Group LLP grew its stake in McCormick & Company, Incorporated by 8.4% during the 4th quarter. Wellington Management Group LLP now owns 151,523 shares of the company’s stock valued at $11,552,000 after acquiring an additional 11,795 shares in the last quarter. California State Teachers Retirement System grew its position in shares of McCormick & Company, Incorporated by 2.4% in the fourth quarter. California State Teachers Retirement System now owns 454,202 shares of the company’s stock valued at $34,628,000 after purchasing an additional 10,482 shares in the last quarter. Capstone Triton Financial Group LLC increased its holdings in shares of McCormick & Company, Incorporated by 2.0% in the fourth quarter. Capstone Triton Financial Group LLC now owns 10,469 shares of the company’s stock valued at $798,000 after purchasing an additional 210 shares during the last quarter. Smith Shellnut Wilson LLC ADV lifted its position in McCormick & Company, Incorporated by 8.1% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 3,263 shares of the company’s stock worth $249,000 after buying an additional 245 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $18,162,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

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.