Recent Research Analysts’ Ratings Updates for McCormick & Company, Incorporated (MKC)

McCormick & Company, Incorporated (NYSE: MKC) has recently received a number of price target changes and ratings updates:

• 10/2/2024 – McCormick & Company, Incorporated had its price target raised by analysts at TD Cowen from $84.00 to $86.00. They now have a “hold” rating on the stock.
• 10/2/2024 – McCormick & Company, Incorporated had its price target raised by analysts at Stifel Nicolaus from $75.00 to $85.00. They now have a “hold” rating on the stock.
• 10/2/2024 – McCormick & Company, Incorporated had its price target raised by analysts at Bank of America Co. from $95.00 to $96.00. They now have a “buy” rating on the stock.
• 9/17/2024 – McCormick & Company, Incorporated had its price target raised by analysts at Bank of America Co. from $86.00 to $95.00. They now have a “buy” rating on the stock.

McCormick & Company, Incorporated Trading Down 1.4 %

NYSE:MKC opened at $80.89 on Friday. The business’s 50-day moving average is $80.33 and its two-hundred day moving average is $75.24. The firm has a market capitalization of $21.73 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $85.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. Research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.08%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MKC. Vanguard Group Inc. lifted its holdings in McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock worth $2,390,261,000 after buying an additional 883,327 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in McCormick & Company, Incorporated by 4.4% during the first quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock worth $246,646,000 after purchasing an additional 136,080 shares during the last quarter. ProShare Advisors LLC boosted its holdings in McCormick & Company, Incorporated by 2.4% in the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock worth $201,442,000 after purchasing an additional 60,512 shares during the period. Nuance Investments LLC boosted its holdings in McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after purchasing an additional 99,741 shares during the period. Finally, First Trust Advisors LP increased its stake in McCormick & Company, Incorporated by 6.1% during the fourth quarter. First Trust Advisors LP now owns 1,004,628 shares of the company’s stock valued at $68,737,000 after purchasing an additional 57,839 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

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.