McCormick & Company, Incorporated (NYSE:MKC) Receives $77.88 Consensus Price Target from Brokerages

Shares of McCormick & Company, Incorporated (NYSE:MKC) have been assigned an average rating of “Hold” from the nine analysts that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $77.88.

Several research analysts have recently weighed in on MKC shares. Citigroup boosted their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday, March 27th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, April 2nd. JPMorgan Chase & Co. decreased their price objective on shares of 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 boosted their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company 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 report on Monday, January 22nd.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 39,181 shares in the company, valued at $2,554,601.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the transaction, the director now directly owns 5,594 shares in the company, valued at $430,738. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the company’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 transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,726 shares of company stock valued at $2,504,728. 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 company. Lindbrook Capital LLC boosted its position in shares of McCormick & Company, Incorporated by 16.5% in the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after purchasing an additional 134 shares during the period. State of Alaska Department of Revenue boosted its position in shares of McCormick & Company, Incorporated by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock worth $2,094,000 after acquiring an additional 135 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its position in shares of McCormick & Company, Incorporated by 1.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock worth $1,193,000 after acquiring an additional 156 shares during the last quarter. KFG Wealth Management LLC boosted its position in shares of McCormick & Company, Incorporated by 3.1% during the fourth quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock worth $358,000 after acquiring an additional 158 shares during the last quarter. Finally, Beaumont Financial Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 4.5% during the fourth quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock worth $252,000 after acquiring an additional 159 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Trading Down 0.8 %

Shares of NYSE MKC opened at $75.55 on Friday. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The stock has a market cap of $20.28 billion, a P/E ratio of 28.84, a price-to-earnings-growth ratio of 3.87 and a beta of 0.73. The firm has a 50-day moving average of $72.73 and a 200 day moving average of $68.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. McCormick & Company, Incorporated’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.22%. McCormick & Company, Incorporated’s dividend payout ratio is currently 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.