McCormick & Company, Incorporated (NYSE:MKC) Receives $78.00 Average PT from Brokerages

Shares of McCormick & Company, Incorporated (NYSE:MKC) have been given an average rating of “Hold” by the nine analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $76.25.

A number of research analysts have commented on the company. TD Cowen decreased their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Stifel Nicolaus upped their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price objective for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Tuesday, April 2nd. Finally, Barclays upped their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th.

McCormick & Company, Incorporated Trading Up 0.5 %

NYSE:MKC opened at $70.94 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $90.83. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.30. The stock has a market capitalization of $19.04 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 3.70 and a beta of 0.74. The business’s 50-day simple moving average is $72.19 and its 200-day simple moving average is $70.17.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.84 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, July 8th. This represents a $1.68 annualized dividend and a dividend yield of 2.37%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.31%.

Insider Buying and Selling

In related news, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the completion of the transaction, the director now directly owns 24,732 shares in the company, valued at $1,868,997.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. Insiders sold a total of 104,458 shares of company stock worth $7,747,114 in the last ninety days. 22.90% of the stock is owned by insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Large investors have recently bought and sold shares of the company. Anchor Investment Management LLC bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $36,000. VisionPoint Advisory Group LLC acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $44,000. Private Trust Co. NA increased its stake in shares of McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after buying an additional 290 shares during the period. Valley National Advisers Inc. increased its stake in shares of McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after buying an additional 582 shares during the period. Finally, Lindbrook Capital LLC increased its stake in shares of McCormick & Company, Incorporated by 16.5% in the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock valued at $73,000 after buying an additional 134 shares during the period. 79.74% of the stock is currently owned by institutional investors.

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.