McCormick & Company Incorporated (MKC) is Downgraded by Bernstein to Mkt Perform

McCormick & Company Incorporated (MKC) was Downgraded by Bernstein to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Bernstein advised their investors in a research report released on Sep 16, 2016.

Many Wall Street Analysts have commented on McCormick & Company Incorporated. Company shares were Reiterated by Deutsche Bank on Jul 1, 2016 to “Buy”, Firm has raised the Price Target to $ 113 from a previous price target of $110 .McCormick & Company Incorporated was Upgraded by Citigroup to ” Neutral” on Jun 23, 2016.

On the company’s financial health, McCormick & Company Incorporated reported $0.75 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jun 30, 2016. Analyst had a consensus of $0.74. The company had revenue of $1063.30 million for the quarter, compared to analysts expectations of $1062.80 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.

McCormick & Company Incorporated closed down -0.45 points or -0.46% at $96.9 with 474,990 shares getting traded on Wednesday. Post opening the session at $97.64, the shares hit an intraday low of $96.61 and an intraday high of $97.77 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jul 14, 2016, Gordon Mckenzie Jr Stetz (Executive Vice President & CFO) sold 38,900 shares at $105.17 per share price. According to the SEC, on Jul 6, 2016, Patricia A Little (director) sold 3,750 shares at $107.22 per share price. On May 23, 2016, Nneka Louise Rimmer (Sr. VP Corp Strategy & Develop) sold 560 shares at $96.00 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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