McCormick & Company, Incorporated (NYSE:MKC) Receives Consensus Rating of “Hold” from Brokerages

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) has been given a consensus recommendation of “Hold” by the nine brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $79.57.

A number of equities research analysts have issued reports on the stock. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their target price for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. TD Cowen boosted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America boosted their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd.

Get Our Latest Stock Analysis on MKC

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Davis Investment Partners LLC bought a new position in McCormick & Company, Incorporated in the third quarter valued at $223,000. Czech National Bank increased its stake in McCormick & Company, Incorporated by 7.0% in the third quarter. Czech National Bank now owns 51,338 shares of the company’s stock valued at $4,225,000 after acquiring an additional 3,366 shares during the last quarter. SG Americas Securities LLC increased its stake in McCormick & Company, Incorporated by 23.9% in the third quarter. SG Americas Securities LLC now owns 55,598 shares of the company’s stock valued at $4,576,000 after acquiring an additional 10,734 shares during the last quarter. Heritage Wealth Management Inc. bought a new position in shares of McCormick & Company, Incorporated during the second quarter valued at about $227,000. Finally, Sanctuary Advisors LLC bought a new position in shares of McCormick & Company, Incorporated during the second quarter valued at about $5,298,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 1.0 %

NYSE:MKC opened at $79.38 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $21.32 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The firm’s 50 day moving average is $80.43 and its 200 day moving average is $75.41. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $85.49.

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

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.12%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.

About McCormick & Company, Incorporated

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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.

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Analyst Recommendations for McCormick & Company, Incorporated (NYSE:MKC)

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