Analysts Set McCormick & Company, Incorporated (NYSE:MKC) PT at $77.88

Shares of McCormick & Company, Incorporated (NYSE:MKC) have received an average rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $77.88.

A number of equities research analysts have weighed in on MKC shares. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Barclays lifted their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Citigroup lifted their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. cut their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th.

Insiders Place Their Bets

In other news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total value of $326,000.00. Following the transaction, the director now owns 39,181 shares in the company, valued at $2,554,601.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now directly owns 5,594 shares of the company’s stock, valued at $430,738. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the sale, the director now owns 39,181 shares of the company’s stock, valued at approximately $2,554,601.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,000 shares of company stock valued at $2,376,400. Corporate insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of hedge funds and other institutional investors have recently modified their holdings of MKC. SVB Wealth LLC lifted its holdings in McCormick & Company, Incorporated by 3.0% during the first quarter. SVB Wealth LLC now owns 3,937 shares of the company’s stock worth $393,000 after acquiring an additional 114 shares during the period. Wellington Management Group LLP raised its stake in shares of McCormick & Company, Incorporated by 0.3% during the 1st quarter. Wellington Management Group LLP now owns 53,866 shares of the company’s stock worth $4,482,000 after purchasing an additional 148 shares during the period. Asset Dedication LLC boosted its holdings in shares of McCormick & Company, Incorporated by 7.5% in the 2nd quarter. Asset Dedication LLC now owns 2,150 shares of the company’s stock worth $187,000 after buying an additional 150 shares during the last quarter. Kinneret Advisory LLC grew its position in McCormick & Company, Incorporated by 2.3% during the first quarter. Kinneret Advisory LLC now owns 6,880 shares of the company’s stock valued at $687,000 after buying an additional 154 shares during the period. Finally, KFG Wealth Management LLC grew its position in McCormick & Company, Incorporated by 3.1% during the fourth quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock valued at $358,000 after buying an additional 158 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.2 %

MKC opened at $71.91 on Tuesday. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The company has a fifty day moving average of $70.08 and a 200-day moving average of $67.47. The stock has a market cap of $19.30 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 3.68 and a beta of 0.74. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.34%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

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.