JPMorgan Chase & Co. Cuts McCormick & Company, Incorporated (NYSE:MKC) Price Target to $66.00

McCormick & Company, Incorporated (NYSE:MKC) had its target price cut by investment analysts at JPMorgan Chase & Co. from $68.00 to $66.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 8.51% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Bank of America increased their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.63.

McCormick & Company, Incorporated Trading Up 0.3 %

Shares of NYSE:MKC traded up $0.25 during mid-day trading on Wednesday, reaching $72.14. The stock had a trading volume of 78,874 shares, compared to its average volume of 1,665,534. The firm has a market cap of $19.36 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75. The firm has a 50 day simple moving average of $77.05 and a two-hundred day simple moving average of $77.90. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a twelve month low of $63.88 and a twelve month high of $85.49.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 20,000 shares of company stock valued at $1,565,850 in the last quarter. 22.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth $28,000. Rosenberg Matthew Hamilton bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $38,000. Strategic Investment Solutions Inc. IL bought a new position in McCormick & Company, Incorporated in the second quarter valued at about $39,000. Kennebec Savings Bank bought a new position in McCormick & Company, Incorporated in the third quarter valued at about $40,000. Finally, Friedenthal Financial bought a new position in McCormick & Company, Incorporated in the third quarter valued at about $49,000. Institutional investors own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.