McCormick & Company, Incorporated (NYSE:MKC) Given New $51.00 Price Target at UBS Group

McCormick & Company, Incorporated (NYSE:MKC) had its price objective reduced by stock analysts at UBS Group from $53.00 to $51.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 10.20% from the company’s current price.

MKC has been the topic of several other reports. TD Cowen decreased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Sanford C. Bernstein decreased their price objective on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. HSBC decreased their price objective on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.55.

McCormick & Company, Incorporated Trading Down 2.3%

Shares of MKC stock traded down $1.09 during trading hours on Tuesday, hitting $46.28. The company had a trading volume of 3,020,710 shares, compared to its average volume of 3,645,955. The company’s fifty day moving average is $49.97 and its 200 day moving average is $60.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $78.16. The stock has a market capitalization of $12.44 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the business posted $0.60 EPS. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. Research analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of McCormick & Company, Incorporated stock in a transaction on Friday, April 10th. The shares were bought at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the acquisition, the director directly owned 2,906 shares in the company, valued at $153,959.88. This represents a 220.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Large investors have recently modified their holdings of the company. Deseret Mutual Benefit Administrators increased its position in shares of McCormick & Company, Incorporated by 67.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after purchasing an additional 164 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $28,000. GoalVest Advisory LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $28,000. Zions Bancorporation National Association UT increased its position in shares of McCormick & Company, Incorporated by 340.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after purchasing an additional 357 shares during the last quarter. Finally, SouthState Bank Corp increased its position in shares of McCormick & Company, Incorporated by 1,777.8% in the 3rd quarter. SouthState Bank Corp now owns 507 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.