UBS Group Has Lowered Expectations for McCormick & Company, Incorporated (NYSE:MKC) Stock Price

Key Points

• UBS Group has lowered its target price for McCormick & Company from $79.00 to $71.00, maintaining a "neutral" rating on the stock, which indicates a potential upside of 5.61% from its current price.
• Other analysts have also reduced their price targets for McCormick, with JPMorgan changing theirs from $83.00 to $82.00 and Stifel Nicolaus lowering it from $82.00 to $76.00, showing a generally cautious outlook.
• The stock has recently seen trading activity with an increase of 0.5%, reaching $67.23, accompanied by notable institutional investment changes as several hedge funds have initiated new positions in the company.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its target price cut by investment analysts at UBS Group from $79.00 to $71.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price target points to a potential upside of 5.61% from the company's current price.

A number of other research firms have also recently issued reports on MKC. JPMorgan Chase & Co. decreased their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Stifel Nicolaus reduced their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. Wall Street Zen cut shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Citigroup reduced 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 research report on Tuesday, June 17th. Finally, Jefferies Financial Group reduced their price target on shares of McCormick & Company, Incorporated from $90.00 to $84.00 and set a "buy" rating on the stock in a research report on Monday, September 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $82.25.

McCormick & Company, Incorporated Trading Up 0.5%

McCormick & Company, Incorporated stock traded up $0.32 during mid-day trading on Wednesday, hitting $67.23. The company's stock had a trading volume of 124,840 shares, compared to its average volume of 2,337,285. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The stock has a market cap of $18.04 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 3.32 and a beta of 0.65. The business has a 50 day moving average price of $69.23 and a 200-day moving average price of $73.15. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Jackson Hole Trust bought a new position in McCormick & Company, Incorporated during the second quarter valued at approximately $25,000. Capital Analysts LLC bought a new position in McCormick & Company, Incorporated during the first quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC bought a new position in McCormick & Company, Incorporated during the second quarter valued at approximately $27,000. Zions Bancorporation National Association UT bought a new position in McCormick & Company, Incorporated during the first quarter valued at approximately $28,000. Finally, Wayfinding Financial LLC purchased a new stake in McCormick & Company, Incorporated during the first quarter valued at approximately $30,000. 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.

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.