McCormick & Company, Incorporated (NYSE:MKC) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

McCormick & Company, Incorporated (NYSE:MKC) had its target price upped by investment analysts at Jefferies Financial Group from $78.00 to $79.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 14.98% from the stock’s current price.

Other equities analysts have also issued reports about the stock. UBS Group decreased their target price on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, December 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Stifel Nicolaus dropped their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.63.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock traded up $0.14 during mid-day trading on Tuesday, hitting $68.71. 2,759,619 shares of the company’s stock traded hands, compared to its average volume of 3,159,823. The stock has a market cap of $18.44 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 4.02 and a beta of 0.62. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. McCormick & Company, Incorporated has a fifty-two week low of $62.64 and a fifty-two week high of $86.24. The firm has a 50 day simple moving average of $66.67 and a two-hundred day simple moving average of $68.27.

Insider Transactions at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $67.43, for a total transaction of $3,371,500.00. Following the completion of the sale, the insider owned 246,762 shares in the company, valued at $16,639,161.66. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brendan M. Foley sold 57,144 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the completion of the sale, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 146,158 shares of company stock worth $9,635,824 in the last three months. Insiders own 23.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Jackson Hole Trust bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $25,000. Elevation Point Wealth Partners LLC bought a new position in McCormick & Company, Incorporated during the second quarter valued at about $27,000. Heartwood Wealth Advisors LLC purchased a new stake in McCormick & Company, Incorporated during the third quarter worth about $28,000. GoalVest Advisory LLC purchased a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $28,000. Finally, Curio Wealth LLC raised its position in McCormick & Company, Incorporated by 39,900.0% in the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after acquiring an additional 399 shares during the period. Hedge funds and other 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.