McCormick & Company, Incorporated (NYSE:MKC) Given New $82.00 Price Target at Barclays

McCormick & Company, Incorporated (NYSE:MKC) had its target price trimmed by Barclays from $85.00 to $82.00 in a report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research analysts also recently weighed in on the stock. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. upped their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Trading Up 2.8 %

NYSE:MKC opened at $77.00 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The firm has a market capitalization of $20.66 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 3.23 and a beta of 0.75. McCormick & Company, Incorporated has a one year low of $64.33 and a one year high of $85.49. The business has a fifty day moving average price of $76.66 and a 200-day moving average price of $78.10.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.34%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.43%.

Insider Activity

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 20,000 shares of company stock worth $1,565,850. Corporate insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MKC. State Street Corp raised its holdings in shares of McCormick & Company, Incorporated by 7.8% during the third quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in McCormick & Company, Incorporated by 58.2% in the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock valued at $127,115,000 after buying an additional 568,276 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in McCormick & Company, Incorporated by 2,778.8% in the third quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company’s stock valued at $37,606,000 after buying an additional 441,048 shares in the last quarter. Millennium Management LLC increased its holdings in McCormick & Company, Incorporated by 111.2% in the second quarter. Millennium Management LLC now owns 733,588 shares of the company’s stock valued at $52,041,000 after buying an additional 386,320 shares in the last quarter. Finally, Covea Finance purchased a new position in McCormick & Company, Incorporated in the third quarter valued at $31,740,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

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.