McCormick & Company, Incorporated (NYSE:MKC) Stock Rating Upgraded by BNP Paribas

McCormick & Company, Incorporated (NYSE:MKC) was upgraded by BNP Paribas to a “strong-buy” rating in a report released on Wednesday, Zacks.com reports.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday. TD Cowen upped their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday. Bank of America lifted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price objective for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Trading Down 1.4 %

Shares of MKC stock opened at $80.89 on Wednesday. The stock has a 50-day simple moving average of $80.33 and a 200 day simple moving average of $75.24. The stock has a market capitalization of $21.73 billion, a P/E ratio of 29.52, a P/E/G ratio of 4.24 and a beta of 0.76. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 22.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 97,525.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the last quarter. Nuance Investments LLC acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth $73,160,000. Vanguard Group Inc. increased its stake in shares of McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after purchasing an additional 883,327 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth $51,286,000. Finally, Millennium Management LLC increased its stake in shares of McCormick & Company, Incorporated by 111.2% during the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after purchasing an additional 386,320 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

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.