MCCORMICK & CO /SH NV (NYSE:MKC) Receives Average Recommendation of “Hold” from Brokerages

MCCORMICK & CO /SH NV (NYSE:MKC) has been given an average rating of “Hold” by the ten analysts that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $156.00.

Several equities research analysts have recently weighed in on MKC shares. Goldman Sachs Group cut shares of MCCORMICK & CO /SH from a “neutral” rating to a “sell” rating and set a $140.00 price target for the company. in a research report on Tuesday, December 10th. ValuEngine cut shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Bank of America started coverage on shares of MCCORMICK & CO /SH in a research report on Friday, January 10th. They issued a “neutral” rating and a price target for the company. UBS Group cut shares of MCCORMICK & CO /SH from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $155.00 to $147.00 in a research report on Thursday, January 9th. Finally, Deutsche Bank reaffirmed a “hold” rating and issued a $163.00 price target on shares of MCCORMICK & CO /SH in a research report on Wednesday, December 11th.

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd lifted its position in MCCORMICK & CO /SH by 157.1% during the fourth quarter. Point72 Hong Kong Ltd now owns 5,958 shares of the company’s stock valued at $1,011,000 after acquiring an additional 3,641 shares during the last quarter. Captrust Financial Advisors lifted its position in MCCORMICK & CO /SH by 5.4% during the fourth quarter. Captrust Financial Advisors now owns 14,077 shares of the company’s stock valued at $2,367,000 after acquiring an additional 725 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in MCCORMICK & CO /SH during the fourth quarter valued at approximately $2,359,000. Orion Portfolio Solutions LLC purchased a new stake in MCCORMICK & CO /SH during the fourth quarter valued at approximately $60,000. Finally, Blueshift Asset Management LLC purchased a new stake in MCCORMICK & CO /SH during the fourth quarter valued at approximately $3,433,000. 79.14% of the stock is owned by hedge funds and other institutional investors.

MCCORMICK & CO /SH stock traded down $0.24 during trading hours on Friday, hitting $166.84. The company had a trading volume of 462,387 shares. MCCORMICK & CO /SH has a 1 year low of $128.12 and a 1 year high of $174.58. The company has a 50-day moving average price of $167.39 and a two-hundred day moving average price of $164.60.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.61. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.52 billion. MCCORMICK & CO /SH’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.67 earnings per share. Research analysts expect that MCCORMICK & CO /SH will post 5.29 earnings per share for the current year.

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

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