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

Key Points

• JPMorgan Chase & Co. has lowered McCormick & Company's price target from $83.00 to $82.00, while maintaining an "overweight" rating on the stock, indicating a potential upside of 25.63% from its current price.
• Several other analysts have also adjusted their price targets, with Stifel Nicolaus setting a new target of $76.00 and Citigroup reducing theirs to $77.00, reflecting a cautious outlook for the company.
• Institutional investors currently hold about 79.74% of McCormick's stock, with notable increases in positions from firms such as Reynders McVeigh Capital Management LLC and Promus Capital LLC during the second quarter.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its price target cut by analysts at JPMorgan Chase & Co. from $83.00 to $82.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 25.63% from the stock's current price.

MKC has been the subject of a number of other research reports. Stifel Nicolaus reduced their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Citigroup lowered their price target 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 downgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Finally, UBS Group reduced their price target on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating for the company in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $84.13.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $65.27 on Thursday. McCormick & Company, Incorporated has a one year low of $63.66 and a one year high of $86.24. The stock's fifty day moving average is $69.69 and its 200 day moving average is $73.65. The stock has a market cap of $17.52 billion, a P/E ratio of 22.66, a P/E/G ratio of 3.19 and a beta of 0.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Institutional Trading of McCormick & Company, Incorporated

Institutional investors have recently added to or reduced their stakes in the stock. Caldwell Trust Co acquired a new position in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $471,000. Reynders McVeigh Capital Management LLC increased its position in shares of McCormick & Company, Incorporated by 2.6% in the second quarter. Reynders McVeigh Capital Management LLC now owns 398,466 shares of the company's stock worth $30,212,000 after acquiring an additional 10,079 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in shares of McCormick & Company, Incorporated by 7.9% in the second quarter. Orion Porfolio Solutions LLC now owns 10,698 shares of the company's stock worth $811,000 after acquiring an additional 781 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter worth $1,215,000. Finally, Promus Capital LLC increased its position in shares of McCormick & Company, Incorporated by 23.2% in the second quarter. Promus Capital LLC now owns 7,874 shares of the company's stock worth $597,000 after acquiring an additional 1,484 shares in the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.