McCormick & Company, Incorporated (NYSE:MKC) PT Raised to $85.00 at Stifel Nicolaus

McCormick & Company, Incorporated (NYSE:MKC) had its price objective hoisted by Stifel Nicolaus from $75.00 to $85.00 in a research report released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other research firms have also issued reports on MKC. Citigroup upgraded McCormick & Company, Incorporated from a sell rating to a neutral rating and upped their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Bank of America increased their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a buy rating in a report on Wednesday. Finally, TD Cowen lowered their target price on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a hold rating on the stock in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $79.57.

McCormick & Company, Incorporated Trading Down 0.3 %

NYSE MKC opened at $80.61 on Wednesday. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $85.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The stock’s 50 day moving average price is $80.43 and its two-hundred day moving average price is $75.37. The stock has a market capitalization of $21.65 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 4.24 and a beta of 0.77.

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

McCormick & Company, Incorporated Dividend Announcement

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

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.90% of the stock is currently owned by corporate insiders.

Institutional Trading of McCormick & Company, Incorporated

Several hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its position in McCormick & Company, Incorporated by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock worth $2,094,000 after buying an additional 135 shares during the period. HCR Wealth Advisors increased its position in McCormick & Company, Incorporated by 2.6% during the second quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock worth $381,000 after acquiring an additional 135 shares during the period. Aptus Capital Advisors LLC raised its stake in McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock worth $357,000 after purchasing an additional 141 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in McCormick & Company, Incorporated by 1.0% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock valued at $1,193,000 after purchasing an additional 156 shares during the period. Finally, KFG Wealth Management LLC boosted its holdings in McCormick & Company, Incorporated by 1.5% in the 2nd quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after purchasing an additional 156 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Company Profile

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.