McCormick & Company, Incorporated (NYSE:MKC) PT Raised to $96.00

McCormick & Company, Incorporated (NYSE:MKC) had its target price raised by analysts at Bank of America from $95.00 to $96.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 18.68% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. TD Cowen decreased their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Trading Down 1.4 %

Shares of NYSE MKC opened at $80.89 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The stock has a market cap of $21.73 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 4.24 and a beta of 0.76. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $85.49. The business has a 50 day simple moving average of $80.33 and a 200 day simple moving average of $75.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share 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 for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the business earned $0.65 EPS. The firm’s revenue was down .3% compared to the same quarter last year. On average, research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Large investors have recently bought and sold shares of the company. Allianz Asset Management GmbH raised its stake in shares of McCormick & Company, Incorporated by 27.0% in the 4th quarter. Allianz Asset Management GmbH now owns 38,107 shares of the company’s stock valued at $2,607,000 after purchasing an additional 8,113 shares during the period. California State Teachers Retirement System boosted its holdings in shares of McCormick & Company, Incorporated by 2.1% during the 4th quarter. California State Teachers Retirement System now owns 406,516 shares of the company’s stock worth $27,814,000 after buying an additional 8,437 shares during the period. NEOS Investment Management LLC acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $224,000. CIBC Private Wealth Group LLC grew its holdings in McCormick & Company, Incorporated by 34.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 10,887 shares of the company’s stock valued at $745,000 after buying an additional 2,768 shares in the last quarter. Finally, First Trust Advisors LP increased its position in McCormick & Company, Incorporated by 6.1% during the fourth quarter. First Trust Advisors LP now owns 1,004,628 shares of the company’s stock worth $68,737,000 after acquiring an additional 57,839 shares during the period. Institutional investors own 79.74% of the company’s stock.

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.