In a report released today, Akshay Jagdale from Jefferies maintained a Buy rating on McCormick & Company (MKC), with a price target of $150. The company’s shares closed yesterday at $143.93.
Jagdale commented:
“Results are not directly comparable to our estimates given the adoption of new accounting standards, however, organic sales growth was better than expected, gross margins were flat y/y and EBIT was generally in line. Expectations were high and although 1Q was solid, quality was not high enough, in our view.”
According to TipRanks.com, Jagdale is a 4-star analyst with an average return of 3.6% and a 51.8% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, Conagra Brands Inc, and J & J Snack Foods.
Currently, the analyst consensus on McCormick & Company is a Hold with an average price target of $130.80.
See today’s analyst top recommended stocks >>
The company has a one-year high of $156 and a one-year low of $99.53. Currently, McCormick & Company has an average volume of 1.34M.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Alan Wilson, a Major Shareholder at MKC sold 90,000 shares for a total of $12,600,000.
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.
