McCormick & Company, Incorporated (NYSE:MKC) had its target price boosted by research analysts at Stifel Nicolaus from $103.00 to $110.00 in a report issued on Friday. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 4.67% from the company’s current price.
MKC has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Citigroup upped their price target on shares of McCormick & Company, Incorporated from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Jefferies Group reiterated a “buy” rating and issued a $120.00 price target on shares of McCormick & Company, Incorporated in a research note on Thursday. Deutsche Bank cut shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating and dropped their price target for the stock from $103.00 to $98.00 in a research note on Friday, January 19th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $115.00 price target (up previously from $112.00) on shares of McCormick & Company, Incorporated in a research note on Friday, September 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $107.00.
Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at $105.09 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $90.25 and a fifty-two week high of $106.50. The company has a market cap of $13,111.49, a price-to-earnings ratio of 29.03, a PEG ratio of 2.26 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.
In related news, Director Maritza Gomez Montiel sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $96.26, for a total value of $240,650.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $99.50, for a total transaction of $497,500.00. Following the completion of the transaction, the director now 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.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. lifted its stake in McCormick & Company, Incorporated by 81.9% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock valued at $167,208,000 after acquiring an additional 733,375 shares during the period. Goldman Sachs Group Inc. lifted its stake in McCormick & Company, Incorporated by 19.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,067,062 shares of the company’s stock valued at $104,049,000 after acquiring an additional 177,210 shares during the period. Bank of New York Mellon Corp lifted its stake in McCormick & Company, Incorporated by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,026,505 shares of the company’s stock valued at $105,360,000 after acquiring an additional 11,005 shares during the period. Swiss National Bank lifted its stake in McCormick & Company, Incorporated by 0.6% during the 3rd quarter. Swiss National Bank now owns 918,848 shares of the company’s stock valued at $94,311,000 after acquiring an additional 5,500 shares during the period. Finally, Legal & General Group Plc lifted its stake in McCormick & Company, Incorporated by 6.9% during the 3rd quarter. Legal & General Group Plc now owns 721,107 shares of the company’s stock valued at $74,015,000 after acquiring an additional 46,561 shares during the period. Institutional investors and hedge funds own 76.13% of the company’s stock.
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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.
