McCormick & Company, Incorporated (NYSE:MKC) received a $115.00 price objective from research analysts at Credit Suisse Group in a report issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Credit Suisse Group’s price objective would indicate a potential upside of 13.38% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Jefferies Group set a $115.00 price target on shares of McCormick & Company, Incorporated and gave the company a “buy” rating in a report on Saturday, October 7th. Stifel Nicolaus reissued a “hold” rating and issued a $103.00 price target (up from $95.00) on shares of McCormick & Company, Incorporated in a report on Monday, October 2nd. Citigroup upped their price target on shares of McCormick & Company, Incorporated from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Finally, BidaskClub raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $106.67.
McCormick & Company, Incorporated (NYSE MKC) opened at $101.43 on Tuesday. The stock has a market cap of $13,287.03, a PE ratio of 25.55, a P/E/G ratio of 2.31 and a beta of 0.53. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.95 and a quick ratio of 0.47. McCormick & Company, Incorporated has a 12-month low of $89.65 and a 12-month high of $106.50.
In other McCormick & Company, Incorporated news, VP Michael R. Smith sold 5,500 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $102.60, for a total transaction of $564,300.00. Following the completion of the sale, the vice president now directly owns 19,248 shares of the company’s stock, valued at $1,974,844.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Freeman A. Hrabowski III sold 3,000 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $98.68, for a total transaction of $296,040.00. The disclosure for this sale can be found here. Insiders sold a total of 16,000 shares of company stock valued at $1,598,490 over the last three months. 15.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in McCormick & Company, Incorporated by 2.5% during the second quarter. Vanguard Group Inc. now owns 12,264,131 shares of the company’s stock valued at $1,195,875,000 after buying an additional 301,377 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in McCormick & Company, Incorporated by 81.9% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock valued at $167,208,000 after buying an additional 733,375 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in McCormick & Company, Incorporated by 19.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,067,062 shares of the company’s stock valued at $104,049,000 after buying an additional 177,210 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in McCormick & Company, Incorporated by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 1,026,505 shares of the company’s stock valued at $105,360,000 after buying an additional 11,005 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in McCormick & Company, Incorporated by 26.6% during the second quarter. Renaissance Technologies LLC now owns 987,100 shares of the company’s stock valued at $96,252,000 after buying an additional 207,600 shares in the last quarter. 76.25% of the stock is owned by institutional investors.
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McCormick & Company, Incorporated Company Profile
McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.
