McCormick & Company, Incorporated (NYSE:MKC) Price Target Lowered to $82.00 at Barclays

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) had its price target reduced by Barclays from $85.00 to $82.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 6.87% from the stock’s current price.

Other analysts have also issued reports about the company. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average target price of $83.75.

Read Our Latest Stock Report on McCormick & Company, Incorporated

McCormick & Company, Incorporated Price Performance

MKC stock opened at $76.73 on Monday. The stock has a market cap of $20.59 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 3.23 and a beta of 0.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The company has a 50 day simple moving average of $76.71 and a 200 day simple moving average of $78.14. McCormick & Company, Incorporated has a 1 year low of $64.33 and a 1 year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. Research analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

Insider Activity

In other news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 20,000 shares of company stock valued at $1,565,850 in the last ninety days. 22.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after purchasing an additional 1,114,706 shares in the last quarter. Point72 Asset Management L.P. increased its position in McCormick & Company, Incorporated by 58.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after buying an additional 568,276 shares in the last quarter. Benjamin Edwards Inc. increased its position in McCormick & Company, Incorporated by 2,778.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock valued at $37,606,000 after buying an additional 441,048 shares in the last quarter. Millennium Management LLC raised its stake in McCormick & Company, Incorporated by 111.2% during the 2nd quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after buying an additional 386,320 shares during the period. Finally, Covea Finance bought a new position in McCormick & Company, Incorporated in the third quarter worth approximately $31,740,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Company Profile

(Get Free Report)

McCormick & Co, Inc engages 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 Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.

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Analyst Recommendations for McCormick & Company, Incorporated (NYSE:MKC)

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