McCormick & Company, Incorporated (NYSE:MKC) Given New $82.00 Price Target at Barclays

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its price target reduced by analysts at Barclays from $85.00 to $82.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's target price indicates a potential upside of 6.57% from the company's current price.

MKC has been the topic of several other reports. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research note on Wednesday, October 2nd. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research report on Friday. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Moderate Buy" and an average target price of $83.75.

McCormick & Company, Incorporated Stock Up 2.7 %

MKC stock traded up $2.06 during midday trading on Monday, reaching $76.95. 1,983,691 shares of the company's stock traded hands, compared to its average volume of 2,139,463. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm's fifty day moving average price is $76.66 and its 200-day moving average price is $78.10. The company has a market cap of $20.65 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 3.23 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $64.33 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the transaction, the director now directly owns 28,217 shares in the company, valued at $2,182,302.78. This represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 20,000 shares of company stock worth $1,565,850 in the last three months. 22.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MKC. Capital Performance Advisors LLP purchased a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $28,000. Albion Financial Group UT bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth $33,000. Kennebec Savings Bank purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $40,000. Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth $38,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $39,000. Hedge funds and other institutional investors 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.