Barclays Boosts McCormick & Company, Incorporated (NYSE:MKC) Price Target to $76.00

McCormick & Company, Incorporated (NYSE:MKC) had its price objective hoisted by analysts at Barclays from $71.00 to $76.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 0.03% from the stock’s current price.

MKC has been the subject of several other reports. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Citigroup upped their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday. Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $76.25.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $76.02 on Thursday. The firm has a market cap of $20.39 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 4.20 and a beta of 0.73. The firm has a 50-day simple moving average of $67.73 and a two-hundred day simple moving average of $67.74. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $94.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.28 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 earnings per share. On average, equities analysts forecast that McCormick & Company, Incorporated will post 2.82 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the transaction, the director now owns 39,181 shares in the company, valued at approximately $2,554,601.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 92,736.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,770,708 shares of the company’s stock valued at $478,334,000 after purchasing an additional 5,764,492 shares in the last quarter. Norges Bank purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at $160,999,000. Massachusetts Financial Services Co. MA lifted its holdings in McCormick & Company, Incorporated by 41.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock valued at $366,667,000 after purchasing an additional 1,577,636 shares in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at $92,340,000. Finally, Holocene Advisors LP acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth $77,091,000. 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.