McCormick & Company, Incorporated (NYSE:MKC) Raised to Buy at Jefferies Financial Group

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) was upgraded by analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a report released on Monday, MarketBeat reports. The firm presently has a $91.00 target price on the stock, up from their prior target price of $85.00. Jefferies Financial Group's target price would indicate a potential upside of 13.79% from the company's previous close.

A number of other analysts have also recently weighed in on MKC. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Bank of America lifted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a report on Wednesday, October 2nd. Finally, TD Cowen raised their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned 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, the company has a consensus rating of "Hold" and an average price target of $81.00.

McCormick & Company, Incorporated Stock Up 3.2 %

Shares of NYSE MKC traded up $2.47 during midday trading on Monday, hitting $79.97. 2,709,712 shares of the company's stock were exchanged, compared to its average volume of 1,896,951. The firm's fifty day simple moving average is $78.46 and its 200-day simple moving average is $76.48. The company has a market cap of $21.46 billion, a PE ratio of 26.36, a P/E/G ratio of 3.31 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $63.88 and a twelve month high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The company's revenue was down .3% compared to the same quarter last year. Research analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

Insider Activity

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the transaction, the director now owns 40,436 shares in the company, valued at approximately $3,174,226. The trade was a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 20,000 shares of company stock worth $1,565,850 over the last 90 days. 22.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Capital Advisors Ltd. LLC boosted its stake in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company's stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $28,000. OFI Invest Asset Management acquired a new position in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $29,000. 1620 Investment Advisors Inc. purchased a new position in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated during the second quarter worth approximately $39,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

About McCormick & Company, Incorporated

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.