McCormick & Company, Incorporated (NYSE:MKC) Given Average Recommendation of “Hold” by Brokerages

Shares of McCormick & Company, Incorporated (NYSE:MKC) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $79.57.

A number of equities analysts have recently issued reports on the company. Bank of America upped their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen upped their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC lifted its holdings in shares of McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $29,000. 1620 Investment Advisors Inc. purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter worth approximately $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $39,000. Finally, Friedenthal Financial purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at approximately $49,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

MKC opened at $77.86 on Friday. The firm has a market capitalization of $20.89 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The business’s 50-day moving average is $81.14 and its two-hundred day moving average is $75.88. McCormick & Company, Incorporated has a 1 year low of $62.54 and a 1 year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. Research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.16%. McCormick & Company, Incorporated’s payout ratio is currently 57.14%.

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.