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

McCormick & Company, Incorporated (NYSE:MKC) has received an average rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $77.88.

A number of research firms have recently weighed in on MKC. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, April 2nd. Citigroup raised their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. reduced 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. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Finally, Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on 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 sale, the director now owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 value of $326,000.00. Following the completion of the transaction, the director now owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 of the company’s stock, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock valued at $2,376,400 in the last quarter. Corporate insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 15.9% during the first quarter. American Century Companies Inc. now owns 5,072 shares of the company’s stock valued at $506,000 after acquiring an additional 696 shares during the period. Vontobel Holding Ltd. increased its position in shares of McCormick & Company, Incorporated by 28.1% during the 1st quarter. Vontobel Holding Ltd. now owns 6,448 shares of the company’s stock worth $627,000 after purchasing an additional 1,415 shares in the last quarter. Sei Investments Co. lifted its holdings in McCormick & Company, Incorporated by 1.0% during the 1st quarter. Sei Investments Co. now owns 108,139 shares of the company’s stock valued at $10,803,000 after purchasing an additional 1,048 shares during the last quarter. Prudential PLC acquired a new position in McCormick & Company, Incorporated in the first quarter valued at about $543,000. Finally, Sequoia Financial Advisors LLC bought a new stake in McCormick & Company, Incorporated during the first quarter worth about $313,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Up 0.2 %

NYSE MKC opened at $75.63 on Tuesday. The firm’s 50 day moving average price is $69.53 and its two-hundred day moving average price is $67.53. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The stock has a market cap of $20.30 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 3.87 and a beta of 0.74.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

McCormick & Company, Incorporated Company Profile

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.