JPMorgan Chase & Co. Boosts McCormick & Company, Incorporated (NYSE:MKC) Price Target to $69.00

McCormick & Company, Incorporated (NYSE:MKC) had its price objective upped by analysts at JPMorgan Chase & Co. from $66.00 to $69.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 7.87% from the stock’s current price.

MKC has been the topic of a number of other reports. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Stifel Nicolaus lifted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Bank of America boosted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Moderate Buy” and an average target price of $83.00.

McCormick & Company, Incorporated Trading Up 0.2 %

McCormick & Company, Incorporated stock opened at $74.90 on Friday. The firm has a market cap of $20.10 billion, a PE ratio of 25.47, a P/E/G ratio of 3.23 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $64.33 and a 12 month high of $85.49. The stock’s 50 day simple moving average is $76.66 and its two-hundred day simple moving average is $77.99. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. Analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. This trade represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 in the last 90 days. 22.90% of the stock is owned by insiders.

Institutional Trading of McCormick & Company, Incorporated

A number of hedge funds have recently bought and sold shares of the business. Alliance Wealth Advisors LLC UT boosted its holdings in shares of McCormick & Company, Incorporated by 2.5% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 27,770 shares of the company’s stock worth $2,117,000 after purchasing an additional 690 shares during the last quarter. Optas LLC lifted its position in McCormick & Company, Incorporated by 16.6% during the fourth quarter. Optas LLC now owns 2,990 shares of the company’s stock worth $228,000 after buying an additional 426 shares in the last quarter. Boston Trust Walden Corp boosted its stake in McCormick & Company, Incorporated by 2.9% during the fourth quarter. Boston Trust Walden Corp now owns 656,337 shares of the company’s stock worth $50,039,000 after buying an additional 18,346 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in McCormick & Company, Incorporated by 16.4% in the 4th quarter. DAVENPORT & Co LLC now owns 87,870 shares of the company’s stock valued at $6,699,000 after buying an additional 12,356 shares in the last quarter. Finally, Caprock Group LLC increased its stake in shares of McCormick & Company, Incorporated by 5.0% in the 4th quarter. Caprock Group LLC now owns 13,018 shares of the company’s stock worth $999,000 after acquiring an additional 616 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

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.