Credit Suisse Group Analysts Give McCormick & Company, Incorporated (MKC) a $115.00 Price Target

McCormick & Company, Incorporated (NYSE:MKC) has been assigned a $115.00 target price by analysts at Credit Suisse Group in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the stock. Credit Suisse Group’s price objective suggests a potential upside of 13.78% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $103.00 price target (up previously from $95.00) on shares of McCormick & Company, Incorporated in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a report on Monday, October 2nd. Citigroup increased their price target on shares of McCormick & Company, Incorporated from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Jefferies Group set a $120.00 price target on shares of McCormick & Company, Incorporated and gave the company a “buy” rating in a report on Monday, October 30th. Finally, BidaskClub upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $106.67.

Shares of McCormick & Company, Incorporated (NYSE MKC) opened at $101.07 on Tuesday. McCormick & Company, Incorporated has a 52 week low of $89.65 and a 52 week high of $106.50. The company has a market cap of $13,167.82, a price-to-earnings ratio of 25.32, a PEG ratio of 2.29 and a beta of 0.53. The company has a quick ratio of 0.47, a current ratio of 0.95 and a debt-to-equity ratio of 1.86.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, September 28th. The company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.07. McCormick & Company, Incorporated had a net margin of 10.05% and a return on equity of 26.09%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $1.03 EPS. The business’s revenue was up 8.6% on a year-over-year basis. equities research analysts expect that McCormick & Company, Incorporated will post 4.22 earnings per share for the current fiscal year.

In other news, Director Maritza Gomez Montiel sold 2,500 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $96.26, for a total transaction of $240,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Freeman A. Hrabowski III sold 3,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $98.68, for a total transaction of $296,040.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,000 shares of company stock valued at $1,598,490. Insiders own 15.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zions Bancorporation boosted its position in shares of McCormick & Company, Incorporated by 5,071.4% in the third quarter. Zions Bancorporation now owns 1,086 shares of the company’s stock worth $111,000 after acquiring an additional 1,065 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 136.6% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 1,500 shares of the company’s stock worth $154,000 after acquiring an additional 866 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter worth approximately $173,000. YorkBridge Wealth Partners LLC acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter worth approximately $174,000. Finally, BlueMountain Capital Management LLC boosted its position in shares of McCormick & Company, Incorporated by 1,600.0% in the second quarter. BlueMountain Capital Management LLC now owns 1,717 shares of the company’s stock worth $167,000 after acquiring an additional 1,616 shares during the last quarter. 76.25% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Credit Suisse Group Analysts Give McCormick & Company, Incorporated (MKC) a $115.00 Price Target” was reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright legislation. The legal version of this piece of content can be read at https://transcriptdaily.com/2017/12/13/credit-suisse-group-analysts-give-mccormick-company-incorporated-mkc-a-115-00-price-target.html.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

Analyst Recommendations for McCormick & Company, Incorporated (NYSE:MKC)

Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply