McCormick & Company, Incorporated (NYSE:MKC) Receives Consensus Rating of “Hold” from Brokerages

by · The Cerbat Gem

Shares of McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) have earned a consensus rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $78.20.

MKC has been the subject of a number of research analyst reports. Bank of America decreased their price target on McCormick & Company, Incorporated from $100.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, October 4th. StockNews.com initiated coverage on McCormick & Company, Incorporated in a research report on Thursday, October 5th. They set a “hold” rating for the company. HSBC initiated coverage on McCormick & Company, Incorporated in a research report on Friday, September 22nd. They set a “hold” rating and a $86.00 price target for the company. TheStreet downgraded McCormick & Company, Incorporated from a “b-” rating to a “c+” rating in a research report on Tuesday, October 3rd. Finally, TD Cowen initiated coverage on McCormick & Company, Incorporated in a report on Wednesday, September 13th. They set a “market perform” rating and a $87.00 price objective for the company.

Check Out Our Latest Analysis on MKC

Insider Transactions at McCormick & Company, Incorporated

In other news, VP Jeffery D. Schwartz sold 2,000 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $64.37, for a total value of $128,740.00. Following the completion of the transaction, the vice president now directly owns 55,174 shares of the company’s stock, valued at $3,551,550.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 19.00% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of large investors have recently made changes to their positions in the stock. Union Savings Bank purchased a new stake in McCormick & Company, Incorporated during the second quarter valued at about $27,000. Edmond DE Rothschild Holding S.A. purchased a new stake in McCormick & Company, Incorporated during the first quarter valued at about $29,000. Legacy Financial Group LLC purchased a new stake in McCormick & Company, Incorporated during the third quarter valued at about $29,000. Headlands Technologies LLC purchased a new stake in McCormick & Company, Incorporated during the second quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd raised its position in McCormick & Company, Incorporated by 177.6% during the first quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $37,000 after purchasing an additional 286 shares in the last quarter. 78.15% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $67.68 on Wednesday. The company has a market cap of $18.16 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 3.29 and a beta of 0.67. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39. The business has a 50 day moving average price of $64.57 and a 200-day moving average price of $77.96. The company has a quick ratio of 0.28, a current ratio of 0.67 and a debt-to-equity ratio of 0.67.

McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last issued its quarterly earnings results on Tuesday, October 3rd. The company reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.70 billion. McCormick & Company, Incorporated had a return on equity of 14.15% and a net margin of 9.80%. McCormick & Company, Incorporated’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. Equities analysts anticipate that McCormick & Company, Incorporated will post 2.65 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 29th will be issued a $0.42 dividend. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.39. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, December 28th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 65.00%.

About McCormick & Company, Incorporated

(Get Free Report

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.

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