Analysts Set McCormick & Company, Incorporated (NYSE:MKC) PT at $76.63

McCormick & Company, Incorporated (NYSE:MKC) has received an average recommendation of “Hold” from the ten research firms that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $76.6250.

MKC has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Barclays lowered their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Jefferies Financial Group raised their price target on McCormick & Company, Incorporated from $78.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. UBS Group decreased their price objective on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Monday, December 15th.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $66.48 on Monday. The stock has a market cap of $17.84 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 4.07 and a beta of 0.62. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. The stock has a 50 day moving average price of $66.91 and a 200-day moving average price of $67.96. McCormick & Company, Incorporated has a one year low of $62.64 and a one year high of $86.24.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were issued a dividend of $0.48 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 66.44%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $67.43, for a total transaction of $3,371,500.00. Following the completion of the transaction, the insider owned 246,762 shares in the company, valued at $16,639,161.66. The trade was a 16.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the sale, the chief executive officer directly owned 108,652 shares in the company, valued at approximately $7,123,225.12. This represents a 34.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 146,158 shares of company stock valued at $9,635,824. Corporate insiders own 23.80% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of McCormick & Company, Incorporated by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock worth $2,854,000 after purchasing an additional 925 shares in the last quarter. Empowered Funds LLC boosted its stake in McCormick & Company, Incorporated by 19.0% during the 1st quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock worth $486,000 after purchasing an additional 941 shares during the last quarter. Woodline Partners LP grew its holdings in shares of McCormick & Company, Incorporated by 40.9% during the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock worth $1,756,000 after buying an additional 6,189 shares in the last quarter. Focus Financial Network Inc. grew its holdings in shares of McCormick & Company, Incorporated by 3.2% during the second quarter. Focus Financial Network Inc. now owns 6,426 shares of the company’s stock worth $487,000 after buying an additional 200 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of McCormick & Company, Incorporated by 2.5% in the second quarter. Exchange Traded Concepts LLC now owns 13,381 shares of the company’s stock valued at $1,015,000 after buying an additional 332 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 (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private?label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.