McCormick & Company, Incorporated (NYSE:MKC) Given New $66.00 Price Target at JPMorgan Chase & Co.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $68.00 to $66.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 7.99% from the company's previous close.

A number of other research analysts have also recently issued reports on the company. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Bank of America lifted their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned 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 an average price target of $82.63.

McCormick & Company, Incorporated Price Performance

NYSE MKC traded down $0.16 during trading on Wednesday, reaching $71.73. 2,345,967 shares of the company traded hands, compared to its average volume of 1,905,300. McCormick & Company, Incorporated has a 1-year low of $63.88 and a 1-year high of $85.49. The company has a market cap of $19.25 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 3.44 and a beta of 0.75. The stock's 50 day moving average price is $77.05 and its two-hundred day moving average price is $77.90. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

Insider Buying and Selling

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total value of $391,650.00. Following the completion of the sale, the director now directly owns 28,217 shares of the company's stock, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last quarter. Insiders own 22.90% of the company's stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several large investors have recently made changes to their positions in MKC. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $28,000. Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $38,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of McCormick & Company, Incorporated during the second quarter worth approximately $39,000. Kennebec Savings Bank acquired a new position in McCormick & Company, Incorporated in the third quarter valued at approximately $40,000. Finally, Friedenthal Financial bought a new position in McCormick & Company, Incorporated in the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 79.74% of the company's stock.

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.