Jefferies Financial Group Lowers McCormick & Company, Incorporated (NYSE:MKC) Price Target to $62.00

McCormick & Company, Incorporated (NYSE:MKC) had its price target dropped by investment analysts at Jefferies Financial Group from $64.00 to $62.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 32.29% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. BTIG Research assumed coverage on shares of McCormick & Company, Incorporated in a report on Tuesday, April 14th. They issued a “neutral” rating on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Finally, Stifel Nicolaus dropped their price target on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $63.36.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC traded up $0.58 during mid-day trading on Thursday, reaching $46.87. The stock had a trading volume of 398,704 shares, compared to its average volume of 4,146,096. The business’s 50 day moving average price is $49.69 and its 200 day moving average price is $60.10. McCormick & Company, Incorporated has a 1 year low of $44.82 and a 1 year high of $78.16. The company has a market cap of $12.59 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 2.26 and a beta of 0.65. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the business posted $0.60 EPS. The firm’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 EPS for the current fiscal year.

Insider Activity

In other McCormick & Company, Incorporated news, Director Gavin Hattersley acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was bought at an average price 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. The trade was a 220.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MKC. Rafferty Asset Management LLC boosted its holdings in shares of McCormick & Company, Incorporated by 0.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock valued at $1,443,000 after buying an additional 157 shares in the last quarter. Ransom Advisory Ltd raised its stake in shares of McCormick & Company, Incorporated by 3.6% during the 4th quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock worth $315,000 after acquiring an additional 160 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after acquiring an additional 164 shares during the last quarter. Glen Eagle Advisors LLC lifted its position in McCormick & Company, Incorporated by 42.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock valued at $39,000 after acquiring an additional 170 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in McCormick & Company, Incorporated by 10.5% in the fourth quarter. Van ECK Associates Corp now owns 1,795 shares of the company’s stock valued at $122,000 after acquiring an additional 171 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

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.