Stifel Nicolaus Increases McCormick & Company, Incorporated (NYSE:MKC) Price Target to $85.00

McCormick & Company, Incorporated (NYSE:MKC) had its target price boosted by equities researchers at Stifel Nicolaus from $75.00 to $85.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 5.08% from the stock’s previous close.

Several other research firms have also recently weighed in on MKC. TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Finally, Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average target price of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $80.89 on Wednesday. The company’s 50-day moving average is $80.33 and its 200-day moving average is $75.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The firm has a market capitalization of $21.73 billion, a PE ratio of 29.52, a PEG ratio of 4.24 and a beta of 0.76. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. McCormick & Company, Incorporated’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 EPS. Equities analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 22.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

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