Analysts Set McCormick & Company, Incorporated (NYSE:MKC) PT at $83.14

Shares of McCormick & Company, Incorporated (NYSE:MKC) have received an average recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $83.14.

Separately, Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th.

Insider Transactions at McCormick & Company, Incorporated

In other news, VP Gregory Repas sold 2,750 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the sale, the vice president now directly owns 2,266 shares of the company’s stock, valued at $184,497.72. This represents a 54.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,392 shares of company stock valued at $4,898,101 in the last three months. 23.80% of the stock is currently owned by corporate insiders.

Institutional Trading of McCormick & Company, Incorporated

Several hedge funds and other institutional investors have recently modified their holdings of the company. Savvy Advisors Inc. purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $466,000. Somerville Kurt F grew its stake in shares of McCormick & Company, Incorporated by 34.2% in the fourth quarter. Somerville Kurt F now owns 96,074 shares of the company’s stock worth $7,325,000 after acquiring an additional 24,467 shares during the last quarter. DJE Kapital AG acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $4,228,000. SBI Securities Co. Ltd. acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $234,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of McCormick & Company, Incorporated by 16.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock worth $10,547,000 after purchasing an additional 19,491 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Up 0.4%

McCormick & Company, Incorporated stock opened at $75.55 on Friday. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The firm’s 50-day moving average is $74.47 and its 200-day moving average is $77.04. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The company has a market cap of $20.26 billion, a P/E ratio of 25.78, a PEG ratio of 3.76 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.38%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.