McCormick & Company, Incorporated (NYSE:MKC) Given Average Recommendation of "Moderate Buy" by Brokerages

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) has earned an average rating of "Moderate Buy" from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $83.75.

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

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.80% of the company's stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $223,202,000. Select Equity Group L.P. purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $104,863,000. State Street Corp boosted its holdings in shares of McCormick & Company, Incorporated by 7.8% during the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company's stock worth $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of McCormick & Company, Incorporated by 47.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company's stock worth $216,771,000 after purchasing an additional 915,807 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock valued at $127,115,000 after purchasing an additional 568,276 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $1.68 during midday trading on Friday, reaching $84.29. The company's stock had a trading volume of 1,022,423 shares, compared to its average volume of 1,981,764. The firm has a market capitalization of $22.60 billion, a PE ratio of 28.83, a P/E/G ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $85.49. The stock has a fifty day moving average of $76.57 and a 200 day moving average of $78.59. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Company Profile

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.