McCormick & Company, Incorporated (NYSE:MKC) Raised to "Buy" at TD Cowen

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) was upgraded by equities researchers at TD Cowen from a "hold" rating to a "buy" rating in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $90.00 target price on the stock, up from their prior target price of $86.00. TD Cowen's target price points to a potential upside of 20.74% from the company's previous close.

MKC has been the topic of several other reports. Stifel Nicolaus boosted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Finally, Bank of America lifted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.50.

McCormick & Company, Incorporated Stock Up 0.3 %

MKC traded up $0.22 during trading on Wednesday, reaching $74.54. The company had a trading volume of 1,456,812 shares, compared to its average volume of 1,486,242. The company has a market cap of $20.00 billion, a P/E ratio of 25.35, a PEG ratio of 3.44 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The business's fifty day moving average price is $77.55 and its 200 day moving average price is $77.76.

Insider Activity

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the director now owns 28,217 shares of the company's stock, valued at $2,210,237.61. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 20,000 shares of company stock valued at $1,565,850. 22.90% of the stock is owned by insiders.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds have recently made changes to their positions in the business. Wallington Asset Management LLC raised its stake in McCormick & Company, Incorporated by 3.4% in the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company's stock valued at $340,000 after acquiring an additional 136 shares during the period. Aurora Investment Counsel raised its position in shares of McCormick & Company, Incorporated by 2.1% in the third quarter. Aurora Investment Counsel now owns 8,443 shares of the company's stock valued at $695,000 after purchasing an additional 172 shares during the period. UMB Bank n.a. lifted its stake in shares of McCormick & Company, Incorporated by 0.9% during the 3rd quarter. UMB Bank n.a. now owns 20,134 shares of the company's stock worth $1,657,000 after buying an additional 176 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of McCormick & Company, Incorporated by 0.9% during the 3rd quarter. Ritholtz Wealth Management now owns 19,482 shares of the company's stock worth $1,603,000 after buying an additional 177 shares during the period. Finally, Empirical Finance LLC boosted its holdings in shares of McCormick & Company, Incorporated by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 8,592 shares of the company's stock worth $707,000 after buying an additional 190 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

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.