MCCORMICK & CO /SH (NYSE:MKC) Now Covered by Jefferies Financial Group

Equities researchers at Jefferies Financial Group began coverage on shares of MCCORMICK & CO /SH (NYSE:MKC) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set an “underperform” rating and a $150.00 price target on the stock. Jefferies Financial Group’s price target points to a potential downside of 12.95% from the stock’s current price. Jefferies Financial Group also issued estimates for MCCORMICK & CO /SH’s FY2022 earnings at $6.35 EPS.

A number of other research firms also recently issued reports on MKC. Credit Suisse Group boosted their target price on shares of MCCORMICK & CO /SH from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America assumed coverage on shares of MCCORMICK & CO /SH in a research report on Friday, January 10th. They set a “neutral” rating and a target price on the stock. UBS Group downgraded shares of MCCORMICK & CO /SH from a “neutral” rating to a “sell” rating and dropped their target price for the company from $155.00 to $147.00 in a research report on Thursday, January 9th. Goldman Sachs Group lowered shares of MCCORMICK & CO /SH from a “neutral” rating to a “sell” rating and set a $140.00 price target for the company. in a research note on Tuesday, December 10th. Finally, ValuEngine lowered shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $156.56.

Shares of NYSE MKC traded down $0.45 during midday trading on Wednesday, reaching $172.32. The stock had a trading volume of 22,314 shares, compared to its average volume of 688,681. The firm has a market cap of $22.96 billion, a price-to-earnings ratio of 32.77, a price-to-earnings-growth ratio of 4.40 and a beta of 0.13. MCCORMICK & CO /SH has a twelve month low of $119.00 and a twelve month high of $173.52. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.37 and a current ratio of 0.78. The company’s 50 day moving average price is $168.87 and its 200 day moving average price is $163.96.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC raised its position in shares of MCCORMICK & CO /SH by 14,359.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 433,638 shares of the company’s stock worth $67,218,000 after buying an additional 430,639 shares during the period. California Public Employees Retirement System raised its holdings in shares of MCCORMICK & CO /SH by 22.0% during the second quarter. California Public Employees Retirement System now owns 919,453 shares of the company’s stock valued at $142,524,000 after buying an additional 165,992 shares during the last quarter. State Street Corp raised its holdings in shares of MCCORMICK & CO /SH by 1.3% during the third quarter. State Street Corp now owns 6,810,527 shares of the company’s stock valued at $1,064,485,000 after buying an additional 85,607 shares during the last quarter. Ambassador Advisors LLC bought a new stake in shares of MCCORMICK & CO /SH during the third quarter valued at approximately $11,843,000. Finally, Squarepoint Ops LLC raised its holdings in shares of MCCORMICK & CO /SH by 286.4% during the third quarter. Squarepoint Ops LLC now owns 90,318 shares of the company’s stock valued at $14,117,000 after buying an additional 66,941 shares during the last quarter. Hedge funds and other institutional investors own 79.21% of the company’s stock.

MCCORMICK & CO /SH Company Profile

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

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Analyst Recommendations for MCCORMICK & CO /SH (NYSE:MKC)

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