Credit Suisse analyst Robert Moskow maintained a Hold rating on McCormick & Company (MKC) yesterday and set a price target of $155.00. The company’s shares closed last Wednesday at $138.64.
According to TipRanks.com, Moskow is a 4-star analyst with an average return of 1.4% and a 46.1% success rate. Moskow covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Sanderson Farms, and Conagra Brands.
Currently, the analyst consensus on McCormick & Company is a Moderate Sell with an average price target of $133.80, implying a -2.5% downside from current levels. In a report issued on March 25, Deutsche Bank also maintained a Hold rating on the stock with a $139.00 price target.
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Based on McCormick & Company’s latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $1.48 billion and net profit of $213 million. In comparison, last year the company earned revenue of $1.47 billion and had a net profit of $214 million.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MKC in relation to earlier this year.
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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 following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao. The Flavour Solutions segment provides products to multinational food manufacturers and foodservice customers. The company was founded by Willoughby M. McCormick in 1889 and is headquartered in Hunt Valley, MD.
