Citigroup Cuts McCormick & Company, Incorporated (NYSE:MKC) Price Target to $77.00

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its price target cut by equities research analysts at Citigroup from $80.00 to $77.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price objective suggests a potential upside of 4.81% from the stock's current price.

MKC has been the topic of several other research reports. UBS Group started coverage on shares of McCormick & Company, Incorporated in a research report on Monday. They issued a "neutral" rating and a $83.00 price target on the stock. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $84.13.

McCormick & Company, Incorporated Trading Down 0.5%

NYSE:MKC opened at $73.47 on Tuesday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The firm's 50 day moving average is $74.57 and its 200 day moving average is $76.95. The stock has a market capitalization of $19.70 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 3.76 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company's revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares of the company's stock, valued at $20,242,820.97. The trade was a 16.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. Insiders have sold a total of 60,392 shares of company stock valued at $4,898,101 over the last quarter. 23.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Analysts LLC acquired a new position in McCormick & Company, Incorporated in the first quarter valued at $26,000. Zions Bancorporation National Association UT acquired a new position in McCormick & Company, Incorporated during the first quarter worth approximately $28,000. Curio Wealth LLC purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $30,000. Wayfinding Financial LLC acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $30,000. Finally, Salem Investment Counselors Inc. increased its holdings in shares of McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after acquiring an additional 336 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Company Profile

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.

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