TD Cowen Increases McCormick & Company, Incorporated (NYSE:MKC) Price Target to $86.00

McCormick & Company, Incorporated (NYSE:MKC) had its price objective boosted by equities researchers at TD Cowen from $84.00 to $86.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price indicates a potential upside of 5.57% from the company’s current price.

MKC has been the topic of several other research reports. Bank of America raised their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price objective for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. Finally, Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Stock Down 3.1 %

Shares of NYSE MKC traded down $2.63 during midday trading on Wednesday, hitting $81.46. 1,563,762 shares of the stock traded hands, compared to its average volume of 1,942,300. The company has a market cap of $21.88 billion, a PE ratio of 29.66, a P/E/G ratio of 4.24 and a beta of 0.76. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. The business has a 50 day moving average price of $80.05 and a two-hundred day moving average price of $75.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm posted $0.65 EPS. McCormick & Company, Incorporated’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the director now directly owns 199,258 shares in the company, valued at $14,944,350. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 22.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its position in McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. OFI Invest Asset Management purchased a new position in McCormick & Company, Incorporated in the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. purchased a new position in McCormick & Company, Incorporated in the 2nd quarter worth $35,000. Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated in the 2nd quarter worth $39,000. Finally, Farmers & Merchants Investments Inc. raised its stake in McCormick & Company, Incorporated by 40.3% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after acquiring an additional 228 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.