TD Cowen Increases McCormick & Company, Incorporated (NYSE:MKC) Price Target to $86.00

McCormick & Company, Incorporated (NYSE:MKC) had its target price upped by TD Cowen from $84.00 to $86.00 in a research note published on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Other analysts also recently issued research reports about the stock. Citigroup raised shares of McCormick & Company, Incorporated from a sell rating to a neutral rating and boosted their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a hold rating in a research note on Wednesday. Finally, Bank of America upped their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a buy rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $80.61 on Wednesday. The company has a 50 day moving average of $80.43 and a two-hundred day moving average of $75.37. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $85.49. The company has a market cap of $21.65 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. As a group, analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.08%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the director now owns 199,258 shares in the company, valued at $14,944,350. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of hedge funds have recently bought and sold shares of MKC. Allianz Asset Management GmbH boosted its position in McCormick & Company, Incorporated by 27.0% during the fourth quarter. Allianz Asset Management GmbH now owns 38,107 shares of the company’s stock worth $2,607,000 after purchasing an additional 8,113 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of McCormick & Company, Incorporated by 2.1% during the fourth quarter. California State Teachers Retirement System now owns 406,516 shares of the company’s stock valued at $27,814,000 after acquiring an additional 8,437 shares during the last quarter. NEOS Investment Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $224,000. CIBC Private Wealth Group LLC raised its holdings in shares of McCormick & Company, Incorporated by 34.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 10,887 shares of the company’s stock valued at $745,000 after acquiring an additional 2,768 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of McCormick & Company, Incorporated by 6.1% during the fourth quarter. First Trust Advisors LP now owns 1,004,628 shares of the company’s stock valued at $68,737,000 after acquiring an additional 57,839 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

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.