Analysts Set McCormick & Company, Incorporated (NYSE:MKC) Price Target at $83.75

Shares of McCormick & Company, Incorporated (NYSE:MKC) have earned a consensus recommendation of “Hold” from the nine analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $83.75.

A number of equities analysts have recently weighed in on the company. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 23.80% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Institutional investors and hedge funds have recently bought and sold shares of the business. Curio Wealth LLC purchased a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $30,000. Albion Financial Group UT acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Twin Tree Management LP purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth $33,000. Ameriflex Group Inc. purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth $33,000. Finally, Lee Danner & Bass Inc. acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $81.64 on Tuesday. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The stock has a market cap of $21.89 billion, a P/E ratio of 27.86, a PEG ratio of 3.76 and a beta of 0.71. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average of $79.09 and a two-hundred day moving average of $78.88.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

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.