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

McCormick & Company, Incorporated (NYSE:MKC) had its target price reduced by stock analysts at Barclays from $85.00 to $82.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 6.87% from the company’s previous close.

A number of other research firms have also recently issued reports on MKC. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America upped their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $76.73 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $76.71 and its 200 day simple moving average is $78.14. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49. The company has a market cap of $20.59 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 3.23 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping 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%. On average, research analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MKC. State Street Corp increased its holdings in McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock valued at $1,260,499,000 after buying an additional 1,114,706 shares during the period. Geode Capital Management LLC boosted its position in shares of McCormick & Company, Incorporated by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after acquiring an additional 54,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in McCormick & Company, Incorporated by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock valued at $247,158,000 after acquiring an additional 177,567 shares during the last quarter. Point72 Asset Management L.P. raised its position in McCormick & Company, Incorporated by 58.2% during the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after purchasing an additional 568,276 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in McCormick & Company, Incorporated by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock valued at $120,409,000 after purchasing an additional 30,696 shares in 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.