McCormick & Company, Incorporated (MKC) Stock Rating Lowered by Deutsche Bank

McCormick & Company, Incorporated (NYSE:MKC) was downgraded by research analysts at Deutsche Bank from a “hold” rating to a “sell” rating in a note issued to investors on Friday. They presently have a $98.00 price objective on the stock, down from their prior price objective of $103.00. Deutsche Bank’s price objective indicates a potential downside of 1.20% from the company’s previous close.

Several other research analysts have also commented on MKC. Stifel Nicolaus reiterated a “hold” rating and set a $103.00 price target (up previously from $95.00) on shares of McCormick & Company, Incorporated in a report on Monday, October 2nd. Credit Suisse Group reiterated a “buy” rating and set a $115.00 price target (up previously from $112.00) on shares of McCormick & Company, Incorporated in a report on Friday, September 29th. Citigroup lifted their price target on McCormick & Company, Incorporated from $100.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, October 2nd. Jefferies Group set a $115.00 price target on McCormick & Company, Incorporated and gave the stock a “buy” rating in a report on Saturday, October 7th. Finally, Zacks Investment Research upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $106.22.

McCormick & Company, Incorporated (NYSE:MKC) opened at $99.19 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $90.25 and a fifty-two week high of $106.50. The company has a current ratio of 0.95, a quick ratio of 0.47 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $13,000.00, a price-to-earnings ratio of 27.48, a PEG ratio of 2.24 and a beta of 0.53.

In related news, Director Maritza Gomez Montiel sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $96.26, for a total value of $240,650.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $99.50, for a total transaction of $497,500.00. Following the completion of the sale, the director now owns 18,825 shares in the company, valued at $1,873,087.50. The disclosure for this sale can be found here. 15.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in McCormick & Company, Incorporated by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 12,264,131 shares of the company’s stock valued at $1,195,875,000 after buying an additional 301,377 shares during the period. Amundi Pioneer Asset Management Inc. raised its holdings in McCormick & Company, Incorporated by 81.9% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock valued at $167,208,000 after buying an additional 733,375 shares during the period. Goldman Sachs Group Inc. grew its position in McCormick & Company, Incorporated by 19.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,067,062 shares of the company’s stock valued at $104,049,000 after acquiring an additional 177,210 shares in the last quarter. Bank of New York Mellon Corp grew its position in McCormick & Company, Incorporated by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,026,505 shares of the company’s stock valued at $105,360,000 after acquiring an additional 11,005 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in McCormick & Company, Incorporated by 26.6% in the 2nd quarter. Renaissance Technologies LLC now owns 987,100 shares of the company’s stock valued at $96,252,000 after acquiring an additional 207,600 shares in the last quarter. Hedge funds and other institutional investors own 76.19% of the company’s stock.

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McCormick & Company, Incorporated 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, Incorporated (NYSE:MKC)

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