JPMorgan Chase & Co. Has Lowered Expectations for McCormick & Company, Incorporated (NYSE:MKC) Stock Price

McCormick & Company, Incorporated (NYSE:MKC) had its price objective dropped by analysts at JPMorgan Chase & Co. from $68.00 to $66.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 10.39% from the company’s previous close.

Several other research analysts have also weighed in on the company. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Stifel Nicolaus lifted their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Bank of America lifted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.63.

McCormick & Company, Incorporated Stock Up 2.6 %

Shares of NYSE:MKC opened at $73.65 on Wednesday. The firm has a market cap of $19.76 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.07 and a beta of 0.75. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 12-month low of $63.88 and a 12-month high of $85.49. The business has a fifty day simple moving average of $76.96 and a 200 day simple moving average of $77.86.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the transaction, the director now owns 28,217 shares in the company, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 20,000 shares of company stock worth $1,565,850. Insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new position in McCormick & Company, Incorporated during the 3rd quarter valued at about $28,000. Kennebec Savings Bank purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $40,000. Rosenberg Matthew Hamilton purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $38,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter worth approximately $39,000. Finally, Friedenthal Financial purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Company Profile

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.