McCormick & Company, Incorporated (NYSE:MKC) Given New $82.00 Price Target at JPMorgan Chase & Co.

McCormick & Company, Incorporated (NYSE:MKC) had its target price lowered by JPMorgan Chase & Co. from $83.00 to $82.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on MKC. Wall Street Zen downgraded McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Citigroup lowered their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 17th. UBS Group lowered their price objective on McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, August 22nd. Finally, Stifel Nicolaus lowered their price objective on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and a consensus target price of $84.13.

McCormick & Company, Incorporated Trading Down 1.0%

Shares of MKC stock opened at $64.57 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. McCormick & Company, Incorporated has a 52-week low of $63.66 and a 52-week high of $86.24. The company has a market capitalization of $17.33 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 3.24 and a beta of 0.65. The business’s fifty day moving average is $69.54 and its 200 day moving average is $73.52.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the business posted $0.69 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of large investors have recently added to or reduced their stakes in the company. EagleClaw Capital Managment LLC raised its position in McCormick & Company, Incorporated by 0.4% during the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock valued at $3,018,000 after purchasing an additional 135 shares in the last quarter. Sage Capital Advisors llc raised its position in McCormick & Company, Incorporated by 2.8% during the first quarter. Sage Capital Advisors llc now owns 5,017 shares of the company’s stock valued at $413,000 after purchasing an additional 137 shares in the last quarter. ST Germain D J Co. Inc. grew its stake in shares of McCormick & Company, Incorporated by 1.8% during the first quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company’s stock valued at $643,000 after buying an additional 140 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 1.3% during the first quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company’s stock valued at $912,000 after buying an additional 146 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in shares of McCormick & Company, Incorporated by 4.8% during the second quarter. SBI Securities Co. Ltd. now owns 3,239 shares of the company’s stock valued at $246,000 after buying an additional 148 shares during the last quarter. 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.