Investors sold shares of McCormick & Company, Incorporated (NYSE:MKC) on strength during trading hours on Friday. $16.76 million flowed into the stock on the tick-up and $141.95 million flowed out of the stock on the tick-down, for a money net flow of $125.19 million out of the stock. Of all equities tracked, McCormick & Company, had the 0th highest net out-flow for the day. McCormick & Company, traded up $0.47 for the day and closed at $98.94
A number of research analysts have recently commented on MKC shares. Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research report on Thursday, June 1st. Credit Suisse Group set a $108.00 target price on McCormick & Company, and gave the company a “buy” rating in a research report on Saturday, July 1st. BidaskClub upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Jefferies Group LLC reiterated a “hold” rating and set a $95.00 target price on shares of McCormick & Company, in a research report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) started coverage on McCormick & Company, in a research report on Friday, June 16th. They set a “neutral” rating and a $101.00 target price for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $103.00.
The stock has a 50 day moving average price of $96.30 and a 200 day moving average price of $99.05. The company has a market capitalization of $12.33 billion, a P/E ratio of 26.28 and a beta of 0.52.
McCormick & Company, (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 29th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.06. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the company posted $0.75 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts anticipate that McCormick & Company, Incorporated will post $4.13 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Managed Accounts LLC acquired a new position in McCormick & Company, during the 1st quarter worth about $135,000. Harfst & Associates Inc. acquired a new position in McCormick & Company, during the 1st quarter worth about $139,000. Van ECK Associates Corp lifted its stake in McCormick & Company, by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 1,689 shares of the company’s stock worth $165,000 after acquiring an additional 109 shares in the last quarter. BlueMountain Capital Management LLC lifted its stake in McCormick & Company, by 1,600.0% during the 2nd quarter. BlueMountain Capital Management LLC now owns 1,717 shares of the company’s stock worth $167,000 after acquiring an additional 1,616 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in McCormick & Company, by 28.4% during the 2nd quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock worth $174,000 after acquiring an additional 395 shares in the last quarter. 72.90% of the stock is currently owned by hedge funds and other institutional investors.
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McCormick & Company, Company Profile
McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.
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