McCormick & Company, Incorporated (NYSE:MKC) Receives $79.57 Average PT from Analysts

McCormick & Company, Incorporated (NYSE:MKC) has been assigned a consensus rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $79.57.

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

Insider Buying and Selling

In other news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $78.50, for a total value of $392,500.00. Following the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at $3,174,226. The trade was a 11.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 20,000 shares of company stock worth $1,565,850 in the last quarter. 22.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several institutional investors have recently bought and sold shares of MKC. Capital Advisors Ltd. LLC increased its holdings in shares of McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of McCormick & Company, Incorporated during the third quarter valued at $28,000. OFI Invest Asset Management bought a new position in McCormick & Company, Incorporated in the second quarter valued at about $29,000. 1620 Investment Advisors Inc. acquired a new stake in McCormick & Company, Incorporated in the second quarter worth about $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth about $39,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.5 %

McCormick & Company, Incorporated stock opened at $77.58 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49. The firm has a fifty day moving average price of $79.62 and a two-hundred day moving average price of $76.25. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 3.44 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.68 by $0.15. The company 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 15.30% and a net margin of 11.87%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. As a group, analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a $0.45 dividend. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.32%. McCormick & Company, Incorporated’s dividend payout ratio is presently 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.