Jefferies Reaffirms Their Buy Rating on McCormick & Company

By Jason Carr

Jefferies analyst Akshay Jagdale reiterated a Buy rating on McCormick & Company (NYSE: MKC) yesterday and set a price target of $110. The company’s shares opened today at $95.13.

According to TipRanks.com, Jagdale is a 3-star analyst with an average return of 1.5% and a 48.9% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Keurig Green Mountain, Amplify Snack Brands, and Lamb Weston Holdings.

Currently, the analyst consensus on McCormick & Company is Moderate Buy and the average price target is $104.33, representing a 9.7% upside.

In a report issued on August 22, Credit Suisse also reiterated a Buy rating on the stock with a $108 price target.

Based on McCormick & Company’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $1.11 billion and quarterly net profit of $100 million. In comparison, last year the company earned revenue of $1.09 billion and had a net profit of $128 million.

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McCormick & Co., Inc. manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the retail outlets, food manufacturers and foodservice businesses. The firm operates its business through the following business segments: Consumer and Industrial.