JPMorgan Chase & Co. Issues Positive Forecast for McCormick & Company, Incorporated (NYSE:MKC) Stock Price

McCormick & Company, Incorporated (NYSE:MKC) had its price target upped by JPMorgan Chase & Co. from $66.00 to $69.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 8.17% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Bank of America increased their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Stifel Nicolaus boosted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

McCormick & Company, Incorporated Trading Up 0.5 %

Shares of MKC stock traded up $0.38 during trading hours on Friday, reaching $75.14. The company had a trading volume of 738,376 shares, compared to its average volume of 2,012,780. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49. 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 firm has a market cap of $20.16 billion, a price-to-earnings ratio of 25.56, a P/E/G ratio of 3.23 and a beta of 0.75. The company has a 50 day moving average of $76.64 and a 200 day moving average of $77.96.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the transaction, the director now directly owns 40,436 shares in the company, valued at approximately $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC bought a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $20,227,000. Hemenway Trust Co LLC lifted its position in shares of McCormick & Company, Incorporated by 71.5% during the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after acquiring an additional 58,511 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of McCormick & Company, Incorporated by 57.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after purchasing an additional 14,652 shares in the last quarter. Wellington Management Group LLP increased its position in shares of McCormick & Company, Incorporated by 21.7% in the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after purchasing an additional 24,881 shares during the period. Finally, Qsemble Capital Management LP acquired a new position in McCormick & Company, Incorporated in the third quarter valued at about $1,104,000. Institutional investors own 79.74% of the company’s stock.

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.