Deutsche Bank Reiterates “Hold” Rating for MCCORMICK & CO /SH (NYSE:MKC)

MCCORMICK & CO /SH (NYSE:MKC)‘s stock had its “hold” rating restated by investment analysts at Deutsche Bank in a research note issued to investors on Wednesday, The Fly reports. They currently have a $163.00 target price on the stock. Deutsche Bank’s target price indicates a potential downside of 3.62% from the stock’s previous close.

MKC has been the topic of a number of other reports. JPMorgan Chase & Co. lowered shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $154.00 to $150.00 in a research report on Tuesday, August 20th. Credit Suisse Group lifted their price objective on shares of MCCORMICK & CO /SH from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Goldman Sachs Group downgraded shares of MCCORMICK & CO /SH from a “neutral” rating to a “sell” rating and set a $140.00 price objective for the company. in a research note on Tuesday. Finally, ValuEngine lowered MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $155.63.

NYSE MKC traded down $1.52 on Wednesday, hitting $169.13. The stock had a trading volume of 5,325 shares, compared to its average volume of 562,070. MCCORMICK & CO /SH has a 52-week low of $119.00 and a 52-week high of $173.31. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.37 and a current ratio of 0.78. The company has a market capitalization of $22.96 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 3.82 and a beta of 0.14. The firm has a 50-day moving average of $164.73 and a 200-day moving average of $161.28.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 1st. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.17. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.34 billion. MCCORMICK & CO /SH had a net margin of 13.12% and a return on equity of 21.63%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 EPS. As a group, research analysts anticipate that MCCORMICK & CO /SH will post 5.38 earnings per share for the current fiscal year.

In other news, Director Michael Aaron Conway sold 5,000 shares of MCCORMICK & CO /SH stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $168.59, for a total value of $842,950.00. Following the transaction, the director now owns 9,501 shares of the company’s stock, valued at approximately $1,601,773.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lisa Manzone sold 2,800 shares of MCCORMICK & CO /SH stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $167.05, for a total transaction of $467,740.00. Following the completion of the transaction, the vice president now directly owns 11,260 shares in the company, valued at approximately $1,880,983. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Institutional investors have recently modified their holdings of the company. WealthPLAN Partners LLC raised its position in MCCORMICK & CO /SH by 3.6% in the 3rd quarter. WealthPLAN Partners LLC now owns 1,692 shares of the company’s stock worth $277,000 after purchasing an additional 59 shares during the last quarter. ETRADE Capital Management LLC boosted its holdings in MCCORMICK & CO /SH by 1.6% in the second quarter. ETRADE Capital Management LLC now owns 4,082 shares of the company’s stock valued at $633,000 after acquiring an additional 63 shares during the last quarter. HM Capital Management LLC boosted its holdings in MCCORMICK & CO /SH by 1.6% in the third quarter. HM Capital Management LLC now owns 3,883 shares of the company’s stock valued at $607,000 after acquiring an additional 63 shares during the last quarter. Mason Street Advisors LLC increased its position in MCCORMICK & CO /SH by 0.4% during the 3rd quarter. Mason Street Advisors LLC now owns 17,531 shares of the company’s stock valued at $2,740,000 after purchasing an additional 67 shares during the period. Finally, Capital Investment Advisory Services LLC increased its position in MCCORMICK & CO /SH by 40.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares during the period. 79.70% of the stock is currently owned by hedge funds and other institutional investors.

MCCORMICK & CO /SH Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

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The Fly

Analyst Recommendations for MCCORMICK & CO /SH (NYSE:MKC)

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