Deutsche Bank Aktiengesellschaft Cuts McCormick & Company, Incorporated (NYSE:MKC) Price Target to $59.00

McCormick & Company, Incorporated (NYSE:MKC) had its price target decreased by Deutsche Bank Aktiengesellschaft from $60.00 to $59.00 in a research report released on Monday. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on MKC. TD Cowen cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating and decreased their target price for the stock from $60.00 to $55.00 in a report on Monday, September 14th. Sanford C. Bernstein cut their target price on shares of McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, June 26th. Weiss Ratings raised McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. UBS Group lifted their price target on shares of McCormick & Company, Incorporated from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, Jefferies Financial Group decreased their price target on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $59.80.

McCormick & Company, Incorporated Stock Down 0.4%

McCormick & Company, Incorporated stock opened at $48.88 on Monday. The stock’s 50 day moving average price is $52.41 and its 200 day moving average price is $51.38. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $72.41. The company has a market cap of $13.14 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 1.99 and a beta of 0.64. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.78 and a quick ratio of 0.39.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. McCormick & Company, Incorporated had a net margin of 21.91% and a return on equity of 12.78%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company earned $0.69 EPS. The firm’s revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.08 EPS for the current fiscal year.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $52.69, for a total value of $10,829,797.22. Following the completion of the transaction, the insider directly owned 296,992 shares in the company, valued at approximately $15,648,508.48. This represents a 40.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of large investors have recently modified their holdings of MKC. Goldman Sachs Group Inc. boosted its position in McCormick & Company, Incorporated by 60.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,659,766 shares of the company’s stock valued at $113,047,000 after acquiring an additional 628,390 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of McCormick & Company, Incorporated by 10.4% in the 4th quarter. Hsbc Holdings PLC now owns 500,292 shares of the company’s stock worth $34,086,000 after acquiring an additional 47,119 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $4,883,000. Y Intercept Hong Kong Ltd purchased a new position in shares of McCormick & Company, Incorporated in the 1st quarter valued at approximately $11,882,000. Finally, Investors Research Corp purchased a new stake in McCormick & Company, Incorporated in the second quarter worth $1,152,000. Institutional investors own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE:MKC) is a global food company that manufactures, markets and distributes spices, herbs, seasonings, condiments, sauces and other flavoring products. Its portfolio serves both retail consumers and foodservice customers, while its flavor solutions business supplies seasoning blends, natural flavors and other ingredients to food manufacturers and restaurant operators.

The company’s consumer brands include McCormick, French’s, Frank’s RedHot, Lawry’s, Old Bay and Gourmet Garden, among others.