McCormick & Company, Incorporated (NYSE:MKC) Price Target Raised to $95.00

McCormick & Company, Incorporated (NYSE:MKC) had its price target boosted by Bank of America from $86.00 to $95.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 12.29% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price objective for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. TD Cowen reduced their target price on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.38.

McCormick & Company, Incorporated Stock Down 0.2 %

Shares of NYSE MKC traded down $0.16 during midday trading on Tuesday, hitting $84.60. The stock had a trading volume of 469,887 shares, compared to its average volume of 1,917,823. The company has a market cap of $22.73 billion, a P/E ratio of 30.95, a PEG ratio of 4.26 and a beta of 0.76. The business’s 50 day moving average is $77.69 and its 200-day moving average is $74.00. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction on 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 completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC grew its stake in McCormick & Company, Incorporated by 16.5% during the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock valued at $73,000 after acquiring an additional 134 shares in the last quarter. State of Alaska Department of Revenue grew its stake in McCormick & Company, Incorporated by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock valued at $2,094,000 after acquiring an additional 135 shares in the last quarter. HCR Wealth Advisors grew its stake in McCormick & Company, Incorporated by 2.6% during the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock valued at $381,000 after acquiring an additional 135 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in McCormick & Company, Incorporated by 2.9% during the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after acquiring an additional 141 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC grew its stake in McCormick & Company, Incorporated by 1.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock valued at $1,193,000 after acquiring an additional 156 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

About McCormick & Company, Incorporated

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.