McCormick & Company, Incorporated (NYSE:MKC) Given New $82.00 Price Target at JPMorgan Chase & Co.

McCormick & Company, Incorporated (NYSE:MKC) had its price objective lowered by JPMorgan Chase & Co. from $83.00 to $82.00 in a research note published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other brokerages have also commented on MKC. Stifel Nicolaus cut their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a research note on Tuesday, July 29th. Citigroup cut their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, June 17th. Wall Street Zen cut McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Finally, UBS Group cut their target price on McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.25.

McCormick & Company, Incorporated Trading Up 1.5%

Shares of MKC stock opened at $65.61 on Thursday. The stock’s 50 day simple moving average is $69.43 and its two-hundred day simple moving average is $73.34. The company has a market cap of $17.61 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 3.26 and a beta of 0.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. McCormick & Company, Incorporated has a 1 year low of $63.66 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. Research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of hedge funds have recently bought and sold shares of MKC. Bank of Jackson Hole Trust acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $25,000. Capital Analysts LLC acquired a new stake in McCormick & Company, Incorporated in the 1st quarter worth about $26,000. Elevation Point Wealth Partners LLC purchased a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $27,000. Zions Bancorporation National Association UT acquired a new position in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $28,000. Finally, Wayfinding Financial LLC acquired a new position in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.