BTIG Research Initiates Coverage on McCormick & Company, Incorporated (NYSE:MKC)

Stock analysts at BTIG Research assumed coverage on shares of McCormick & Company, Incorporated (NYSE:MKC) in a research note issued on Tuesday, Marketbeat.com reports. The brokerage set a “neutral” rating on the stock.

MKC has been the topic of a number of other reports. Barclays lowered their target price on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Stifel Nicolaus cut their target price on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. BNP Paribas Exane decreased their price target on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. TD Cowen lowered their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, HSBC dropped their price objective on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $64.27.

McCormick & Company, Incorporated Stock Down 0.9%

MKC opened at $53.35 on Tuesday. The firm has a market cap of $14.34 billion, a P/E ratio of 8.75, a price-to-earnings-growth ratio of 2.64 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The business has a 50 day moving average price of $60.53 and a 200 day moving average price of $64.17. McCormick & Company, Incorporated has a twelve month low of $47.52 and a twelve month high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. Research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $67.09, for a total value of $335,450.00. Following the sale, the director directly owned 31,596 shares in the company, valued at $2,119,775.64. This trade represents a 13.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $71.63, for a total transaction of $3,581,500.00. Following the transaction, the insider owned 296,992 shares in the company, valued at approximately $21,273,536.96. The trade was a 14.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 65,000 shares of company stock valued at $4,575,800 in the last 90 days. 10.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of institutional investors have recently added to or reduced their stakes in the company. Heartwood Wealth Advisors LLC acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at approximately $28,000. GoalVest Advisory LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $28,000. Deseret Mutual Benefit Administrators increased its position in shares of McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after purchasing an additional 164 shares during the period. Motiv8 Investments LLC bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $28,000. Finally, Zions Bancorporation National Association UT raised its stake in shares of McCormick & Company, Incorporated by 340.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after purchasing an additional 357 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.