McCormick & Company, Incorporated (NYSE:MKC – Get Rating) had its price target increased by equities researchers at Deutsche Bank Aktiengesellschaft from $96.00 to $99.00 in a report released on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 2.17% from the stock’s previous close.
A number of other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating and set a $99.00 target price on the stock in a research note on Tuesday, December 14th. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a research note on Thursday, February 17th. They noted that the move was a valuation call. Finally, Credit Suisse Group downgraded McCormick & Company, Incorporated from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a research note on Wednesday, January 19th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $99.80.
NYSE MKC opened at $96.90 on Wednesday. The company has a market cap of $25.92 billion, a price-to-earnings ratio of 34.61, a price-to-earnings-growth ratio of 5.06 and a beta of 0.48. McCormick & Company, Incorporated has a twelve month low of $77.85 and a twelve month high of $107.35. The business’s fifty day moving average is $98.11 and its 200 day moving average is $90.69. The company has a quick ratio of 0.31, a current ratio of 0.68 and a debt-to-equity ratio of 0.90.
McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last issued its earnings results on Tuesday, March 29th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.47 billion. McCormick & Company, Incorporated had a return on equity of 19.01% and a net margin of 11.95%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.16 earnings per share for the current fiscal year.
In other news, CEO Lawrence Erik Kurzius sold 90,000 shares of the stock in a transaction dated Monday, January 31st. The shares were sold at an average price of $100.09, for a total transaction of $9,008,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brendan M. Foley sold 39,970 shares of the stock in a transaction dated Monday, January 31st. The stock was sold at an average price of $99.76, for a total transaction of $3,987,407.20. The disclosure for this sale can be found here. In the last three months, insiders sold 172,442 shares of company stock worth $17,127,439. 15.90% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 4.7% during the fourth quarter. BlackRock Inc. now owns 20,370,004 shares of the company’s stock worth $1,967,945,000 after purchasing an additional 915,428 shares during the period. Fundsmith LLP lifted its holdings in McCormick & Company, Incorporated by 1.1% in the fourth quarter. Fundsmith LLP now owns 18,910,918 shares of the company’s stock worth $1,826,984,000 after buying an additional 197,289 shares during the period. State Street Corp lifted its holdings in McCormick & Company, Incorporated by 3.6% in the fourth quarter. State Street Corp now owns 13,765,605 shares of the company’s stock worth $1,334,848,000 after buying an additional 481,027 shares during the period. Nordea Investment Management AB lifted its holdings in McCormick & Company, Incorporated by 141.7% in the third quarter. Nordea Investment Management AB now owns 5,928,070 shares of the company’s stock worth $491,022,000 after buying an additional 3,475,139 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in McCormick & Company, Incorporated by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,728,544 shares of the company’s stock worth $455,636,000 after buying an additional 113,236 shares during the period. Institutional investors own 71.82% of the company’s stock.
McCormick & Company, Incorporated Company Profile
McCormick & Co, Inc is engaged 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 operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, French’s, Frank’s RedHot, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor, and DaQiao.