Goldman Sachs Group Inc. The: Time To Buy McCormick & Company (NYSE:MKC)? Has $101.00 Valuation Target

June 19, 2017 - By Winifred Garcia

 Goldman Sachs Group Inc. The: Time To Buy McCormick & Company (NYSE:MKC)? Has $101.00 Valuation Target

Investors sentiment decreased to 0.93 in 2016 Q4. Its down 0.17, from 1.1 in 2016Q3. It worsened, as 50 investors sold McCormick & Company, Incorporated shares while 203 reduced holdings. 60 funds opened positions while 175 raised stakes. 89.01 million shares or 0.45% less from 89.41 million shares in 2016Q3 were reported.

Wms Ptnrs Ltd Llc owns 34,770 shares. Northstar Lc invested in 82,460 shares. State Board Of Administration Of Florida Retirement Systems holds 190,079 shares. Commonwealth Comml Bank Of Aus, a Australia-based fund reported 950 shares. Stevens Cap Mgmt Lp owns 0.24% invested in McCormick & Company, Incorporated (NYSE:MKC) for 62,857 shares. 30 are held by Tci Wealth. Axa stated it has 106,300 shares or 0.05% of all its holdings. Tompkins Corporation accumulated 605 shares. Janus Capital Mgmt Limited Co holds 1.10M shares or 0.09% of its portfolio. Cornerstone Mgmt Ltd Liability Corp has invested 0.01% of its portfolio in McCormick & Company, Incorporated (NYSE:MKC). Crestpoint Cap Ltd Liability Corporation holds 6,800 shares. Sumitomo Life Communications has invested 0.14% in McCormick & Company, Incorporated (NYSE:MKC). Buckingham Capital reported 15,426 shares stake. Gam Hldgs Ag holds 0.06% or 34,215 shares in its portfolio. Stifel Fincl Corp holds 0.09% or 218,164 shares.

Since February 2, 2017, it had 1 buying transaction, and 2 selling transactions for $20.94 million activity. Shares for $20.72 million were sold by WILSON ALAN D on Wednesday, April 12. 2,500 McCormick & Company, Incorporated (NYSE:MKC) shares with value of $249,050 were bought by Montiel Maritza Gomez. 5,000 shares were sold by MANGAN MICHAEL D, worth $475,442.

Why Has Goldman Sachs Group Inc. The Given McCormick & Company (NYSE:MKC) a $101.00 Price Target

Goldman Sachs Group Inc. The has just issued a Neutral rating for McCormick & Company (NYSE:MKC) shares. The firm began coverage on shares of MKC in analysts note issued on 16 June. This TP suggests downside of -0.82 % from the last price of McCormick & Company (NYSE:MKC).

Investors sentiment decreased to 0.93 in 2016 Q4. Its down 0.17, from 1.1 in 2016Q3. It worsened, as 50 investors sold McCormick & Company, Incorporated shares while 203 reduced holdings. 60 funds opened positions while 175 raised stakes. 89.01 million shares or 0.45% less from 89.41 million shares in 2016Q3 were reported.

Wms Ptnrs Ltd Llc owns 34,770 shares. Northstar Lc invested in 82,460 shares. State Board Of Administration Of Florida Retirement Systems holds 190,079 shares. Commonwealth Comml Bank Of Aus, a Australia-based fund reported 950 shares. Stevens Cap Mgmt Lp owns 0.24% invested in McCormick & Company, Incorporated (NYSE:MKC) for 62,857 shares. 30 are held by Tci Wealth. Axa stated it has 106,300 shares or 0.05% of all its holdings. Tompkins Corporation accumulated 605 shares. Janus Capital Mgmt Limited Co holds 1.10M shares or 0.09% of its portfolio. Cornerstone Mgmt Ltd Liability Corp has invested 0.01% of its portfolio in McCormick & Company, Incorporated (NYSE:MKC). Crestpoint Cap Ltd Liability Corporation holds 6,800 shares. Sumitomo Life Communications has invested 0.14% in McCormick & Company, Incorporated (NYSE:MKC). Buckingham Capital reported 15,426 shares stake. Gam Hldgs Ag holds 0.06% or 34,215 shares in its portfolio. Stifel Fincl Corp holds 0.09% or 218,164 shares.

Since February 2, 2017, it had 1 buying transaction, and 2 selling transactions for $20.94 million activity. Shares for $20.72 million were sold by WILSON ALAN D on Wednesday, April 12. 2,500 McCormick & Company, Incorporated (NYSE:MKC) shares with value of $249,050 were bought by Montiel Maritza Gomez. 5,000 shares were sold by MANGAN MICHAEL D, worth $475,442.

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

Among 11 analysts covering McCormick & Company (NYSE:MKC), 3 have Buy rating, 0 Sell and 8 Hold. Therefore 27% are positive. McCormick & Company has $113 highest and $74 lowest target. $96.09’s average target is -5.64% below currents $101.83 stock price. McCormick & Company had 24 analyst reports since August 20, 2015 according to SRatingsIntel. The firm has “Neutral” rating given on Friday, June 16 by Goldman Sachs. BB&T Capital initiated McCormick & Company, Incorporated (NYSE:MKC) rating on Tuesday, September 1. BB&T Capital has “Buy” rating and $99.0 target. The stock of McCormick & Company, Incorporated (NYSE:MKC) earned “Neutral” rating by Citigroup on Thursday, June 23. The company was upgraded on Friday, April 7 by Edward Jones. Credit Suisse upgraded the shares of MKC in report on Tuesday, October 25 to “Outperform” rating. The stock of McCormick & Company, Incorporated (NYSE:MKC) earned “Buy” rating by Bank of America on Tuesday, December 6. On Wednesday, February 15 the stock rating was initiated by Deutsche Bank with “Hold”. The rating was initiated by UBS with “Neutral” on Wednesday, February 24. The firm has “Hold” rating given on Monday, August 24 by Zacks. On Thursday, January 7 the stock rating was upgraded by Deutsche Bank to “Buy”.

It closed at $101.83 lastly. It is down 5.12% since June 19, 2016 and is uptrending. It has underperformed by 11.58% the S&P500.

Analysts expect McCormick & Company, Incorporated (NYSE:MKC) to report $0.77 EPS on June, 29.They anticipate $0.02 EPS change or 2.67 % from last quarter’s $0.75 EPS. MKC’s profit would be $92.63M giving it 33.06 P/E if the $0.77 EPS is correct. After having $0.76 EPS previously, McCormick & Company, Incorporated’s analysts see 1.32 % EPS growth.

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 has market cap of $12.25 billion. The Company’s divisions include consumer and industrial. It has a 27.51 P/E ratio. The Firm is involved in the manufacturing and sales of flavorful products.

More recent McCormick & Company, Incorporated (NYSE:MKC) news were published by: Prnewswire.com which released: “McCormick & Company’s 2017 Second Quarter Results Conference Call to be …” on June 15, 2017. Also Prnewswire.com published the news titled: “McCormick Appoints Tony Vernon to Board of Directors” on May 23, 2017. Baltimoresun.com‘s news article titled: “Harry K. Wells, McCormick executive and World War II veteran” with publication date: May 24, 2017 was also an interesting one.

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