McCormick & Company, Incorporated (NYSE:MKC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of McCormick & Company, Incorporated (NYSE:MKC) have been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $77.88.

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Citigroup increased their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, April 2nd. Finally, Barclays raised their target price on 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.

Insider Buying and Selling at McCormick & Company, Incorporated

In other 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 value of $539,000.00. Following the transaction, the director now owns 5,594 shares of the company’s stock, valued at approximately $430,738. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the transaction, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the transaction, the director now owns 5,594 shares in the company, valued at approximately $430,738. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,000 shares of company stock worth $2,376,400. Company insiders own 22.90% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

A number of hedge funds have recently modified their holdings of MKC. Wealth Enhancement Advisory Services LLC raised its holdings in McCormick & Company, Incorporated by 13.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 121,333 shares of the company’s stock worth $9,320,000 after purchasing an additional 14,641 shares during the period. Cardinal Capital Management raised its stake in McCormick & Company, Incorporated by 10.1% during the 1st quarter. Cardinal Capital Management now owns 89,369 shares of the company’s stock worth $6,864,000 after buying an additional 8,228 shares during the period. Davis Investment Partners LLC acquired a new stake in McCormick & Company, Incorporated during the 1st quarter worth $203,000. DLK Investment Management LLC lifted its holdings in McCormick & Company, Incorporated by 14.1% during the first quarter. DLK Investment Management LLC now owns 69,344 shares of the company’s stock worth $5,326,000 after acquiring an additional 8,580 shares in the last quarter. Finally, Jacobs & Co. CA grew its stake in McCormick & Company, Incorporated by 5.3% in the first quarter. Jacobs & Co. CA now owns 150,459 shares of the company’s stock valued at $11,556,000 after acquiring an additional 7,510 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

MKC opened at $71.91 on Tuesday. The stock’s 50 day simple moving average is $70.08 and its 200-day simple moving average is $67.47. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The stock has a market cap of $19.30 billion, a PE ratio of 27.45, a P/E/G ratio of 3.68 and a beta of 0.74. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share (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 company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the company posted $0.59 EPS. The business’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be given a $0.42 dividend. 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 payout ratio is 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.