McCormick & Company, Incorporated (NYSE:MKC) Given Average Rating of “Hold” by Brokerages

Shares of McCormick & Company, Incorporated (NYSE:MKC) have received a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $64.2727.

Several brokerages recently weighed in on MKC. BTIG Research began coverage on McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They set a “neutral” rating on the stock. UBS Group dropped their target price on McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. Barclays dropped their target price on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. BNP Paribas Exane dropped their target price on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Finally, Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley acquired 2,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were acquired at an average cost of $52.98 per share, with a total value of $105,960.00. Following the completion of the acquisition, the director owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of institutional investors and hedge funds have recently modified their holdings of MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 during the period. Empowered Funds LLC lifted its holdings in shares of McCormick & Company, Incorporated by 19.0% during the first 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 period. Woodline Partners LP lifted 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 purchasing an additional 6,189 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter worth about $6,520,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 6.1% during the second quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock worth $2,873,000 after purchasing an additional 2,176 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 1.6%

Shares of NYSE:MKC opened at $46.78 on Friday. McCormick & Company, Incorporated has a 12-month low of $44.82 and a 12-month high of $78.16. The business’s fifty day simple moving average is $50.27 and its 200-day simple moving average is $60.63. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $12.57 billion, a PE ratio of 7.67, a P/E/G ratio of 2.33 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s payout ratio is presently 31.48%.

About McCormick & Company, Incorporated

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.