Deutsche Bank Lowers McCormick & Company, Incorporated (MKC) to Sell

McCormick & Company, Incorporated (NYSE:MKC) was downgraded by equities researchers at Deutsche Bank from a “hold” rating to a “sell” rating in a report released on Friday, MarketBeat reports. They currently have a $98.00 price objective on the stock, down from their prior price objective of $103.00. Deutsche Bank’s price target would suggest a potential downside of 1.20% from the stock’s previous close.

Several other analysts have also commented on MKC. Credit Suisse Group reaffirmed a “buy” rating and issued a $115.00 price objective (up previously from $112.00) on shares of McCormick & Company, Incorporated in a research report on Friday, September 29th. Citigroup lifted their price objective on shares of McCormick & Company, Incorporated from $100.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, October 2nd. Zacks Investment Research raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a research report on Monday, October 2nd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $103.00 price objective (up previously from $95.00) on shares of McCormick & Company, Incorporated in a research report on Monday, October 2nd. Finally, Jefferies Group set a $115.00 price objective on shares of McCormick & Company, Incorporated and gave the stock a “buy” rating in a research report on Saturday, October 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $106.22.

Shares of McCormick & Company, Incorporated (NYSE MKC) traded down $3.72 during mid-day trading on Friday, reaching $99.19. 2,891,516 shares of the company’s stock traded hands, compared to its average volume of 601,916. The company has a market capitalization of $13,480.90, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 2.32 and a beta of 0.53. The company has a current ratio of 0.95, a quick ratio of 0.47 and a debt-to-equity ratio of 1.86. McCormick & Company, Incorporated has a twelve month low of $90.25 and a twelve month high of $106.50.

In other news, Director Maritza Gomez Montiel sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $96.26, for a total value of $240,650.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $99.50, for a total transaction of $497,500.00. Following the completion of the sale, the director now directly owns 18,825 shares in the company, valued at approximately $1,873,087.50. The disclosure for this sale can be found here. Insiders own 15.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. TRUE Private Wealth Advisors bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $513,000. State of Alaska Department of Revenue raised its position in shares of McCormick & Company, Incorporated by 40.5% in the fourth quarter. State of Alaska Department of Revenue now owns 36,101 shares of the company’s stock valued at $3,677,000 after purchasing an additional 10,415 shares during the period. McCollum Christoferson Group LLC bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $3,492,000. Westpac Banking Corp grew its stake in McCormick & Company, Incorporated by 10.1% during the fourth quarter. Westpac Banking Corp now owns 7,516 shares of the company’s stock valued at $766,000 after acquiring an additional 688 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in McCormick & Company, Incorporated by 2.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 399,937 shares of the company’s stock valued at $40,758,000 after acquiring an additional 10,879 shares in the last quarter. 76.19% of the stock is currently 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.

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

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