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

McCormick & Company, Incorporated (NYSE:MKC) had its price objective dropped by Barclays from $85.00 to $82.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 9.49% from the stock’s previous close.

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

McCormick & Company, Incorporated Stock Up 0.2 %

McCormick & Company, Incorporated stock opened at $74.90 on Monday. The firm has a market cap of $20.10 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 3.23 and a beta of 0.75. McCormick & Company, Incorporated has a 52-week low of $64.33 and a 52-week high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The firm has a 50 day moving average price of $76.66 and a two-hundred day moving average price of $78.10.

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

Insider Activity

In related news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the sale, the director now owns 40,436 shares in the company, valued at approximately $3,194,444. This represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 20,000 shares of company stock worth $1,565,850 over the last 90 days. 22.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of hedge funds have recently bought and sold shares of the company. State Street Corp lifted its position in shares of McCormick & Company, Incorporated by 7.8% during 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. grew its holdings in shares of McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after acquiring an additional 568,276 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of McCormick & Company, Incorporated by 2,778.8% during the third quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock valued at $37,606,000 after acquiring an additional 441,048 shares during the last quarter. Millennium Management LLC lifted its holdings in McCormick & Company, Incorporated by 111.2% during the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock worth $52,041,000 after acquiring an additional 386,320 shares during the period. Finally, Covea Finance purchased a new position in McCormick & Company, Incorporated in the third quarter worth $31,740,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Company Profile

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.