Citigroup Has Lowered Expectations for McCormick & Company, Incorporated (NYSE:MKC) Stock Price

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) had its price objective cut by analysts at Citigroup from $80.00 to $77.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 5.26% from the stock’s current price.

A number of other research firms have also commented on MKC. UBS Group assumed coverage on shares of McCormick & Company, Incorporated in a research report on Monday. They issued a “neutral” rating and a $83.00 price objective for the company. Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $84.13.

Check Out Our Latest Stock Report on MKC

McCormick & Company, Incorporated Trading Up 0.3%

Shares of NYSE:MKC opened at $73.15 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.25. The company’s 50-day moving average price is $74.44 and its two-hundred day moving average price is $76.89. The stock has a market capitalization of $19.62 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 3.67 and a beta of 0.68. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. On average, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Insider Activity at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. The trade was a 54.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is owned by insiders.

Institutional Trading of McCormick & Company, Incorporated

Several hedge funds have recently added to or reduced their stakes in the company. Capital Analysts LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $26,000. Zions Bancorporation National Association UT purchased a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $28,000. Curio Wealth LLC purchased a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $30,000. Wayfinding Financial LLC acquired a new position in shares of McCormick & Company, Incorporated during the first quarter worth $30,000. Finally, Salem Investment Counselors Inc. boosted its stake in McCormick & Company, Incorporated by 610.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock valued at $32,000 after acquiring an additional 336 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Company Profile

(Get Free Report)

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.

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

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