McCormick & Company, Incorporated (NYSE:MKC) Price Target Lowered to $66.00 at JPMorgan Chase & Co.

McCormick & Company, Incorporated (NYSE:MKC) had its target price lowered by JPMorgan Chase & Co. from $68.00 to $66.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities research analysts also recently issued reports on the company. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Bank of America increased their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.63.

McCormick & Company, Incorporated Trading Down 0.2 %

NYSE:MKC opened at $71.73 on Wednesday. McCormick & Company, Incorporated has a 1-year low of $63.88 and a 1-year high of $85.49. The business’s 50-day moving average price is $77.05 and its two-hundred day moving average price is $77.90. 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 firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 3.07 and a beta of 0.75.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.51%. McCormick & Company, Incorporated’s dividend payout ratio is 61.22%.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the transaction, the director now directly owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. This represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $1,565,850. Insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. HB Wealth Management LLC boosted its position in McCormick & Company, Incorporated by 7.3% during the fourth quarter. HB Wealth Management LLC now owns 5,642 shares of the company’s stock valued at $430,000 after purchasing an additional 384 shares during the last quarter. Spring Capital Management LLC lifted its position in shares of McCormick & Company, Incorporated by 2.7% in the fourth quarter. Spring Capital Management LLC now owns 59,466 shares of the company’s stock valued at $4,534,000 after buying an additional 1,590 shares during the last quarter. DB Fitzpatrick & Co Inc lifted its position in shares of McCormick & Company, Incorporated by 14.8% in the fourth quarter. DB Fitzpatrick & Co Inc now owns 14,549 shares of the company’s stock valued at $1,109,000 after buying an additional 1,874 shares during the last quarter. Merit Financial Group LLC lifted its position in shares of McCormick & Company, Incorporated by 19.1% in the fourth quarter. Merit Financial Group LLC now owns 9,772 shares of the company’s stock valued at $745,000 after buying an additional 1,569 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $1,893,000. 79.74% of the stock is owned by institutional investors and hedge funds.

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.