McCormick & Company, Incorporated (NYSE:MKC) Stock Rating Lowered by Argus

McCormick & Company, Incorporated (NYSE:MKC) was downgraded by equities research analysts at Argus from a “buy” rating to a “hold” rating in a research report issued on Thursday, Marketbeat reports.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. raised their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, Barclays cut their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $83.75.

McCormick & Company, Incorporated Trading Down 0.2 %

McCormick & Company, Incorporated stock opened at $81.47 on Thursday. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The firm’s 50-day moving average is $79.26 and its 200-day moving average is $78.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The company has a market cap of $21.85 billion, a P/E ratio of 27.80, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 23.80% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Large investors have recently modified their holdings of the stock. Larson Financial Group LLC lifted its holdings in shares of McCormick & Company, Incorporated by 90.5% during the third quarter. Larson Financial Group LLC now owns 2,879 shares of the company’s stock valued at $237,000 after purchasing an additional 1,368 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in McCormick & Company, Incorporated by 20.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 33,120 shares of the company’s stock worth $2,726,000 after buying an additional 5,609 shares during the period. Bank of Montreal Can lifted its stake in McCormick & Company, Incorporated by 3.0% during the third quarter. Bank of Montreal Can now owns 366,459 shares of the company’s stock valued at $30,504,000 after buying an additional 10,559 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of McCormick & Company, Incorporated by 3.7% in the third quarter. D.A. Davidson & CO. now owns 14,253 shares of the company’s stock worth $1,173,000 after buying an additional 503 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of McCormick & Company, Incorporated in the third quarter worth about $84,000. 79.74% of the stock is owned by institutional investors.

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.