McCormick & Company, Incorporated (NYSE:MKC) Rating Increased to Hold at Wall Street Zen

McCormick & Company, Incorporated (NYSE:MKC) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other equities analysts have also recently issued research reports about the company. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. UBS Group assumed coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, Citigroup dropped their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.13.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $75.28 on Friday. The stock has a market capitalization of $20.20 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.61 and a beta of 0.68. McCormick & Company, Incorporated has a 52-week low of $69.00 and a 52-week high of $86.24. The stock’s 50-day moving average price is $74.41 and its 200 day moving average price is $76.54. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. As a group, equities research analysts forecast 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, insider Katherine Jenkins sold 7,642 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 23.80% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Institutional investors and hedge funds have recently modified their holdings of the company. Capital Analysts LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth approximately $26,000. Zions Bancorporation National Association UT acquired a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth approximately $28,000. Wayfinding Financial LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth approximately $30,000. Salem Investment Counselors Inc. grew its holdings in shares of McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock worth $32,000 after acquiring an additional 336 shares during the period. Finally, Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds 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.