McCormick & Company, Incorporated (NYSE:MKC) Now Covered by Analysts at UBS Group

Analysts at UBS Group started coverage on shares of McCormick & Company, Incorporated (NYSE:MKC) in a research report issued on Monday, Marketbeat reports. The brokerage set a “neutral” rating and a $83.00 price target on the stock. UBS Group’s target price would indicate a potential upside of 13.80% from the stock’s current price.

Separately, Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. One equities 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $84.13.

McCormick & Company, Incorporated Trading Down 1.3%

NYSE:MKC opened at $72.94 on Monday. The company has a fifty day moving average of $74.50 and a 200 day moving average of $76.92. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The company has a quick ratio of 0.25, a current ratio of 0.65 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $19.56 billion, a P/E ratio of 25.06, a P/E/G ratio of 3.72 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. McCormick & Company, Incorporated’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the transaction, the director now owns 247,437 shares of the company’s stock, valued at approximately $20,242,820.97. This represents a 16.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katherine Jenkins sold 7,642 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,392 shares of company stock valued at $4,898,101. Corporate insiders own 23.80% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC boosted its stake in McCormick & Company, Incorporated by 7.4% during the fourth quarter. Empowered Funds LLC now owns 4,962 shares of the company’s stock worth $378,000 after acquiring an additional 341 shares in the last quarter. Asset Management One Co. Ltd. boosted its position 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 worth $10,547,000 after purchasing an additional 19,491 shares in the last quarter. Principal Securities Inc. boosted its position in shares of McCormick & Company, Incorporated by 4.1% in the 4th quarter. Principal Securities Inc. now owns 5,322 shares of the company’s stock worth $406,000 after purchasing an additional 208 shares in the last quarter. Mathes Company Inc. grew its stake in shares of McCormick & Company, Incorporated by 3.2% in the 4th quarter. Mathes Company Inc. now owns 28,877 shares of the company’s stock worth $2,202,000 after buying an additional 900 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in McCormick & Company, Incorporated by 4.6% during the 4th quarter. CIBC Asset Management Inc now owns 38,436 shares of the company’s stock valued at $2,930,000 after buying an additional 1,698 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

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.