J.P. Morgan Sticks to Its Sell Rating for McCormick & Company (MKC)

J.P. Morgan analyst Kenneth Goldman maintained a Sell rating on McCormick & Company (MKCResearch Report) yesterday and set a price target of $72.00. The company’s shares closed yesterday at $79.30.

Goldman covers the Consumer Goods sector, focusing on stocks such as Campbell Soup, Kellogg, and Hain Celestial. According to TipRanks, Goldman has an average return of 9.6% and a 60.15% success rate on recommended stocks.

The word on The Street in general, suggests a Hold analyst consensus rating for McCormick & Company with a $84.71 average price target.

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Based on McCormick & Company’s latest earnings release for the quarter ending May 31, the company reported a quarterly revenue of $1.54 billion and a net profit of $118.5 million. In comparison, last year the company earned a revenue of $1.56 billion and had a net profit of $183.7 million

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is neutral on the stock.

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Founded in 1889, McCormick & Co., Inc. is a Maryland-based food company, which is engaged 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 following two segments: Consumer and Flavor Solutions.

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