TD Cowen Increases McCormick & Company, Incorporated (NYSE:MKC) Price Target to $86.00

McCormick & Company, Incorporated (NYSE:MKC) had its target price upped by equities researchers at TD Cowen from $84.00 to $86.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential upside of 6.32% from the stock’s current price.

MKC has been the subject of several other research reports. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Bank of America raised their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $80.89 on Wednesday. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $85.49. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $80.33 and a two-hundred day simple moving average of $75.24. The firm has a market capitalization of $21.73 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business earned $0.65 earnings per share. McCormick & Company, Incorporated’s quarterly revenue was down .3% compared to the same quarter last year. Analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 22.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MKC. Capital Advisors Ltd. LLC increased its position in McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the period. OFI Invest Asset Management purchased a new position in McCormick & Company, Incorporated during the 2nd quarter valued at about $29,000. 1620 Investment Advisors Inc. purchased a new position in McCormick & Company, Incorporated during the 2nd quarter valued at about $35,000. Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated during the 2nd quarter valued at about $39,000. Finally, Farmers & Merchants Investments Inc. increased its position in McCormick & Company, Incorporated by 40.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after purchasing an additional 228 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Company Profile

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.