McCormick & Company Incorporated (MKC) is Upgraded by Citigroup to Neutral

McCormick & Company Incorporated (MKC) was Upgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Sell ” on the company shares. Citigroup advised their investors in a research report released on Jun 23, 2016.

Many Wall Street Analysts have commented on McCormick & Company Incorporated. Credit Suisse Resumed McCormick & Company Incorporated on Apr 20, 2016 to “Neutral”, Price Target of the shares are set at $95.

On the company’s financial health, McCormick & Company Incorporated reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Mar 29, 2016. Analyst had a consensus of $0.69. The company had revenue of $1030.20 million for the quarter, compared to analysts expectations of $1029.63 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.

McCormick & Company Incorporated opened for trading at $100.55 and hit $101.42 on the upside on Tuesday, eventually ending the session at $100.83, with a gain of 0.65% or 0.65 points. The heightened volatility saw the trading volume jump to 4,57,576 shares. Company has a market cap of $12,798 M.

In a different news, on May 23, 2016, Nneka Louise Rimmer (Sr. VP Corp Strategy & Develop) sold 560 shares at $96.00 per share price. According to the SEC, on May 5, 2016, Malcolm Swift (President Global Industrial &) sold 26,950 shares at $95.01 per share price. On Apr 20, 2016, Gordon Mckenzie Jr Stetz (Executive Vice President & CFO) sold 37,000 shares at $95.03 per share price, according to the Form-4 filing with the securities and exchange commission.

McCormick & Company Incorporated manufactures markets and distributes spices seasoning mixes condiments and other flavorful products to the food industry. The Company has two business segments: consumer and industrial. Under the Consumer segment its brands in the Americas include McCormick Lawry’s and Club House. It also markets ethnic brands such as Zatarain’s Thai Kitchen and Simply Asia. In Europe the Middle East and Africa (EMEA) its brands include the Ducros Schwartz and Kamis brands of spices herbs and seasonings and a line of Vahine brand dessert items. In the Asia/Pacific region it markets products under the McCormick and DaQiao brands. In Australia it markets products under the McCormick brand. In India its majority-owned joint venture owns and trades under the Kohinoor brand. In the industrial business segment it offers seasoning blends spices and herbs condiments coating systems and compound flavors to food manufacturers and foodservice customers.

McCormick & Company Incorporated

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