McCormick & Company, Incorporated (NYSE:MKC) Given a $115.00 Price Target at Jefferies Group LLC

McCormick & Company, Incorporated (NYSE:MKC) received a $115.00 price target from equities researchers at Jefferies Group LLC in a research report issued on Saturday, October 7th. The brokerage presently has a “buy” rating on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 16.01% from the stock’s previous close.

MKC has been the subject of a number of other research reports. BidaskClub raised shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research raised shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research note on Monday, October 2nd. Goldman Sachs Group, Inc. (The) initiated coverage on shares of McCormick & Company, in a research note on Friday, June 16th. They issued a “neutral” rating and a $101.00 price objective for the company. Credit Suisse Group raised their price objective on shares of McCormick & Company, from $108.00 to $112.00 and gave the stock an “outperform” rating in a research note on Monday, September 18th. Finally, Citigroup Inc. raised their price objective on shares of McCormick & Company, from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. McCormick & Company, presently has an average rating of “Buy” and a consensus price target of $105.50.

Shares of McCormick & Company, (MKC) traded down 0.187% on Friday, reaching $98.945. The company had a trading volume of 189,502 shares. The company has a 50 day moving average of $97.78 and a 200-day moving average of $98.76. The company has a market capitalization of $12.33 billion, a P/E ratio of 26.280 and a beta of 0.53. McCormick & Company, has a 52 week low of $88.64 and a 52 week high of $106.50.

McCormick & Company, (NYSE:MKC) last issued its earnings results on Thursday, September 28th. The company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.07. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. Analysts predict that McCormick & Company, will post $4.22 earnings per share for the current fiscal year.

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In related news, VP Michael R. Smith sold 5,500 shares of McCormick & Company, stock in a transaction on Friday, September 29th. The shares were sold at an average price of $102.60, for a total value of $564,300.00. Following the transaction, the vice president now owns 19,248 shares in the company, valued at approximately $1,974,844.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. FNY Managed Accounts LLC bought a new position in McCormick & Company, in the 1st quarter worth $135,000. Harfst & Associates Inc. bought a new position in McCormick & Company, in the 1st quarter worth $139,000. Van ECK Associates Corp raised its holdings in McCormick & Company, by 6.9% in the 1st quarter. Van ECK Associates Corp now owns 1,689 shares of the company’s stock worth $165,000 after acquiring an additional 109 shares during the period. BlueMountain Capital Management LLC raised its holdings in McCormick & Company, by 1,600.0% in the 2nd quarter. BlueMountain Capital Management LLC now owns 1,717 shares of the company’s stock worth $167,000 after acquiring an additional 1,616 shares during the period. Finally, IFP Advisors Inc raised its holdings in McCormick & Company, by 28.4% in the 2nd quarter. IFP Advisors Inc now owns 1,784 shares of the company’s stock worth $174,000 after acquiring an additional 395 shares during the period. Hedge funds and other institutional investors own 69.36% of the company’s stock.

McCormick & Company, Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

Analyst Recommendations for McCormick & Company, (NYSE:MKC)

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