McCormick & Company, Incorporated (NYSE:MKC) Receives $83.75 Average Target Price from Brokerages

Shares of McCormick & Company, Incorporated (NYSE:MKC) have received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $83.75.

MKC has been the subject of a number of analyst reports. Barclays cut their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. upped their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the sale, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $28,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Kennebec Savings Bank purchased a new stake in McCormick & Company, Incorporated during the third quarter valued at about $40,000. Rosenberg Matthew Hamilton bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $38,000. Finally, Friedenthal Financial purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth about $49,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Down 0.0 %

Shares of NYSE:MKC opened at $76.85 on Monday. The company has a market capitalization of $20.61 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a 1 year low of $64.33 and a 1 year high of $85.49. The business’s 50-day moving average is $76.72 and its 200-day moving average is $78.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. Equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.43%.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.