McCormick & Company, Incorporated (MKC) Stock Rating Reaffirmed by Credit Suisse Group
McCormick & Company, Incorporated (NYSE:MKC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Credit Suisse Group in a report issued on Friday. They presently have a $115.00 target price on the stock, up from their prior target price of $112.00. Credit Suisse Group’s target price suggests a potential upside of 12.04% from the company’s previous close.
A number of other brokerages have also recently commented on MKC. Jefferies Group LLC reaffirmed a “buy” rating and set a $110.00 price target on shares of McCormick & Company, in a research report on Thursday, August 31st. Zacks Investment Research lowered McCormick & Company, from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. BidaskClub raised McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, Edward Jones raised McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $105.00.
Shares of McCormick & Company, (MKC) traded down 2.65% on Friday, reaching $99.92. 986,848 shares of the company were exchanged. The company has a market cap of $12.45 billion, a price-to-earnings ratio of 26.54 and a beta of 0.53. The company’s 50-day moving average price is $96.50 and its 200 day moving average price is $99.04. McCormick & Company, has a 12 month low of $88.64 and a 12 month high of $106.50.
McCormick & Company, (NYSE:MKC) last posted its quarterly earnings data on Thursday, September 28th. The company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.07. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts expect that McCormick & Company, will post $4.21 EPS for the current year.
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In other news, VP Michael R. Smith sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $102.60, for a total transaction of $564,300.00. Following the transaction, the vice president now directly owns 19,248 shares of the company’s stock, valued at $1,974,844.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 15.30% of the company’s stock.
Several large investors have recently bought and sold shares of MKC. FNY Managed Accounts LLC bought a new position in McCormick & Company, in the 1st quarter valued at about $135,000. Harfst & Associates Inc. bought a new stake in McCormick & Company, during the first quarter worth $139,000. Van ECK Associates Corp grew its holdings in McCormick & Company, by 6.9% during the first quarter. Van ECK Associates Corp now owns 1,689 shares of the company’s stock worth $165,000 after buying an additional 109 shares in the last quarter. BlueMountain Capital Management LLC grew its holdings in McCormick & Company, by 1,600.0% during the second quarter. BlueMountain Capital Management LLC now owns 1,717 shares of the company’s stock worth $167,000 after buying an additional 1,616 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in McCormick & Company, by 28.4% during the second quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock worth $174,000 after buying an additional 395 shares in the last quarter. 72.74% of the stock is owned by institutional investors.
McCormick & Company, Company Profile
McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.
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