McCormick & Company, Incorporated (NYSE:MKC) Receives $78.00 Consensus PT from Analysts

McCormick & Company, Incorporated (NYSE:MKC) has received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $78.00.

Several equities analysts have recently weighed in on MKC shares. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Stifel Nicolaus dropped their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Monday, December 15th. UBS Group decreased their target price on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th.

McCormick & Company, Incorporated Trading Up 0.3%

Shares of McCormick & Company, Incorporated stock opened at $69.13 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a twelve month low of $62.64 and a twelve month high of $86.24. The firm has a market capitalization of $18.55 billion, a PE ratio of 23.92, a P/E/G ratio of 4.56 and a beta of 0.62. The firm’s 50-day moving average price is $66.28 and its 200 day moving average price is $68.82.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.8%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, December 29th. McCormick & Company, Incorporated’s payout ratio is 62.28%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total value of $3,746,360.64. Following the transaction, the chief executive officer owned 108,652 shares of the company’s stock, valued at $7,123,225.12. This represents a 34.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total value of $3,293,000.00. Following the transaction, the insider owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 146,158 shares of company stock worth $9,557,324. Corporate insiders own 23.80% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dupont Capital Management Corp acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter worth about $4,321,000. Bright Rock Capital Management LLC purchased a new position in McCormick & Company, Incorporated during the 2nd quarter worth approximately $7,582,000. Boston Trust Walden Corp increased its position in McCormick & Company, Incorporated by 7.9% during the second quarter. Boston Trust Walden Corp now owns 1,083,026 shares of the company’s stock worth $82,115,000 after buying an additional 79,548 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in McCormick & Company, Incorporated by 7.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 550,337 shares of the company’s stock worth $41,727,000 after buying an additional 37,864 shares during the period. Finally, Prudential Financial Inc. lifted its stake in McCormick & Company, Incorporated by 8.0% in the second quarter. Prudential Financial Inc. now owns 147,201 shares of the company’s stock valued at $11,161,000 after buying an additional 10,842 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.