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Barclays Sticks to Its Hold Rating for McCormick & Company (MKC)


Barclays analyst Andrew Lazar maintained a Hold rating on McCormick & Company (NYSE: MKC) on September 27 and set a price target of $129. The company’s shares closed on Friday at $131.75, close to its 52-week high of $132.83.

According to TipRanks.com, Lazar is a 4-star analyst with an average return of 6.8% and a 63.9% success rate. Lazar covers the Consumer Goods sector, focusing on stocks such as Post Holdings Inc, TreeHouse Foods, and Kraft Heinz.

McCormick & Company has an analyst consensus of Moderate Buy, with a price target consensus of $131.75, implying a 0.0% upside from current levels. In a report issued on September 28, Stifel Nicolaus also maintained a Hold rating on the stock with a $125 price target.

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Based on McCormick & Company’s latest earnings release for the quarter ending August 31, the company reported a quarterly net profit of $174 million. In comparison, last year the company had a net profit of $108 million.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. Last month, Alan Wilson, a Director at MKC sold 100,000 shares for a total of $12,530,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

McCormick & Co., Inc. engages in the manufacture, market, 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 Industrial business segments.