McCormick & Company, Incorporated (NYSE:MKC) Reaches New 52-Week High – Still a Buy?

Shares of McCormick & Company, Incorporated (NYSE:MKC) reached a new 52-week high on Tuesday . The company traded as high as $85.59 and last traded at $85.41, with a volume of 76484 shares trading hands. The stock had previously closed at $84.73.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of analyst reports. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Finally, Barclays cut their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average target price of $83.75.

McCormick & Company, Incorporated Stock Down 0.9 %

The stock has a market cap of $21.98 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.76 and a beta of 0.75. The business’s 50 day moving average is $76.88 and its 200-day moving average is $78.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.80% of the stock is owned by insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $28,000. Curio Wealth LLC purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $30,000. Ameriflex Group Inc. acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Twin Tree Management LP purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $33,000. Finally, Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. 79.74% of the stock is owned by institutional investors and hedge funds.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, 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 Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.