McCormick & Company, Incorporated (NYSE:MKC) Receives Average Recommendation of “Hold” from Analysts

McCormick & Company, Incorporated (NYSE:MKC) has earned an average rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $78.00.

A number of equities analysts have issued reports on the company. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price target for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Barclays upped their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Finally, Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Tuesday, April 2nd.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of NYSE MKC opened at $68.68 on Friday. The company’s 50 day moving average price is $72.50 and its 200-day moving average price is $70.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39. The company has a market capitalization of $18.43 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS. Equities analysts forecast that McCormick & Company, Incorporated will post 2.84 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.45%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the transaction, the director now directly owns 5,594 shares of the company’s stock, valued at $430,738. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the completion of the transaction, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. In the last three months, insiders sold 111,458 shares of company stock valued at $8,286,114. 22.90% of the stock is owned by insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Anchor Investment Management LLC purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $36,000. VisionPoint Advisory Group LLC purchased a new stake in McCormick & Company, Incorporated in the fourth quarter worth $44,000. Private Trust Co. NA raised its stake in shares of McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after buying an additional 290 shares during the period. Valley National Advisers Inc. lifted its position in shares of McCormick & Company, Incorporated by 283.9% during the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after buying an additional 582 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of McCormick & Company, Incorporated by 16.5% during the 1st quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock valued at $73,000 after buying an additional 134 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

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.