Deutsche Bank Aktiengesellschaft Has Lowered Expectations for McCormick & Company, Incorporated (NYSE:MKC) Stock Price

McCormick & Company, Incorporated (NYSE:MKC) had its target price decreased by investment analysts at Deutsche Bank Aktiengesellschaft from $60.00 to $59.00 in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 20.51% from the company’s previous close.

Other research analysts also recently issued reports about the company. UBS Group boosted their price objective on McCormick & Company, Incorporated from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Weiss Ratings upgraded McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 5th. TD Cowen lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating and lowered their price objective for the company from $60.00 to $55.00 in a research note on Monday, September 14th. JPMorgan Chase & Co. dropped their target price on shares of McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. Finally, Barclays cut their target price on shares of McCormick & Company, Incorporated from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.80.

McCormick & Company, Incorporated Trading Down 0.3%

NYSE:MKC opened at $48.96 on Monday. McCormick & Company, Incorporated has a 52 week low of $44.82 and a 52 week high of $72.41. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.78. The firm’s fifty day moving average is $52.41 and its 200-day moving average is $51.38. The firm has a market cap of $13.16 billion, a P/E ratio of 8.15, a P/E/G ratio of 1.99 and a beta of 0.64.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, June 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.11. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. McCormick & Company, Incorporated had a net margin of 21.91% and a return on equity of 12.78%. McCormick & Company, Incorporated’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. Equities analysts expect that McCormick & Company, Incorporated will post 3.08 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Lawrence Kurzius sold 205,538 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $52.69, for a total value of $10,829,797.22. Following the completion of the sale, the insider directly owned 296,992 shares of the company’s stock, valued at $15,648,508.48. This represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Deseret Mutual Benefit Administrators lifted its holdings in shares of McCormick & Company, Incorporated by 67.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after buying an additional 164 shares during the period. Glen Eagle Advisors LLC grew its holdings in McCormick & Company, Incorporated by 42.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock worth $39,000 after acquiring an additional 170 shares during the period. New Mexico Educational Retirement Board raised its position in McCormick & Company, Incorporated by 1.7% in the fourth quarter. New Mexico Educational Retirement Board now owns 11,632 shares of the company’s stock worth $792,000 after acquiring an additional 200 shares in the last quarter. Minot DeBlois Advisors LLC raised its position in McCormick & Company, Incorporated by 1.8% in the fourth quarter. Minot DeBlois Advisors LLC now owns 12,921 shares of the company’s stock worth $880,000 after acquiring an additional 231 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in McCormick & Company, Incorporated by 3.6% in the 2nd quarter. QRG Capital Management Inc. now owns 8,302 shares of the company’s stock valued at $419,000 after acquiring an additional 292 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE:MKC) is a global food company that manufactures, markets and distributes spices, herbs, seasonings, condiments, sauces and other flavoring products. Its portfolio serves both retail consumers and foodservice customers, while its flavor solutions business supplies seasoning blends, natural flavors and other ingredients to food manufacturers and restaurant operators.

The company’s consumer brands include McCormick, French’s, Frank’s RedHot, Lawry’s, Old Bay and Gourmet Garden, among others.