McCormick & Company, Incorporated (NYSE:MKC) Sets New 1-Year High - Time to Buy?

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $85.59 and last traded at $85.41, with a volume of 76484 shares traded. The stock had previously closed at $84.73.

Wall Street Analyst Weigh In

MKC has been the subject of several recent analyst reports. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. Barclays cut their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.75.

McCormick & Company, Incorporated Price Performance

The company has a market capitalization of $22.17 billion, a PE ratio of 28.21, a P/E/G ratio of 3.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The firm has a fifty day simple moving average of $76.96 and a 200 day simple moving average of $78.73.

Remove Ads

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data 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 net margin of 11.73% and a return on equity of 14.89%. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction dated 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 sale, the director now owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.80% of the company's stock.

Institutional Trading of McCormick & Company, Incorporated

Several large investors have recently bought and sold shares of the stock. Hemenway Trust Co LLC lifted its holdings in shares of McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company's stock worth $11,552,000 after purchasing an additional 58,511 shares during the period. Wellington Management Group LLP boosted its holdings in McCormick & Company, Incorporated by 21.7% in the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company's stock valued at $11,500,000 after purchasing an additional 24,881 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in McCormick & Company, Incorporated by 57.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company's stock worth $3,298,000 after purchasing an additional 14,652 shares during the period. Qsemble Capital Management LP purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at about $1,104,000. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of McCormick & Company, Incorporated by 16.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company's stock valued at $10,547,000 after buying an additional 19,491 shares during the period. Hedge funds and other 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.