McCormick & Company, Incorporated (NYSE:MKC) Receives Average Rating of “Hold” from Brokerages

McCormick & Company, Incorporated (NYSE:MKC) has earned a consensus rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat reports. One equities 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. The average 12 month price target among brokers that have issued a report on the stock in the last year is $79.57.

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

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total value of $395,000.00. Following the transaction, the director now owns 40,436 shares in the company, valued at approximately $3,194,444. The trade was a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 over the last three months. Company insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at $20,227,000. Hemenway Trust Co LLC lifted its stake in McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after buying an additional 58,511 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 57.6% in the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock worth $3,298,000 after buying an additional 14,652 shares during the period. Cetera Investment Advisers increased its position in shares of McCormick & Company, Incorporated by 470.6% in the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after acquiring an additional 31,306 shares in the last quarter. Finally, Boston Trust Walden Corp increased its position in shares of McCormick & Company, Incorporated by 1.1% in the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after acquiring an additional 6,588 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Up 0.7 %

Shares of McCormick & Company, Incorporated stock opened at $77.80 on Wednesday. The stock has a market capitalization of $20.88 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 3.54 and a beta of 0.77. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The business’s 50 day simple moving average is $79.33 and its 200-day simple moving average is $76.28.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Equities research 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 disclosed 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 2.31%. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

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.