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

Shares of McCormick & Company, Incorporated (NYSE:MKC) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $84.25.

A number of research analysts recently weighed in on MKC shares. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Citigroup lowered their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 17th. Stifel Nicolaus lowered their price objective on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, July 29th. JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $69.00 to $83.00 in a research report on Wednesday, August 20th. Finally, UBS Group lowered their price objective on McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, August 22nd.

McCormick & Company, Incorporated Stock Down 0.2%

MKC stock opened at $70.41 on Friday. McCormick & Company, Incorporated has a twelve month low of $68.23 and a twelve month high of $86.24. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The stock has a market cap of $18.90 billion, a P/E ratio of 24.45, a PEG ratio of 3.46 and a beta of 0.66. The business’s 50-day moving average price is $72.07 and its 200-day moving average price is $75.31.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm earned $0.69 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. McCormick & Company, Incorporated’s payout ratio is currently 62.50%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Hedge funds have recently modified their holdings of the stock. IFM Investors Pty Ltd lifted its holdings in shares of McCormick & Company, Incorporated by 13.3% in the first quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company’s stock worth $4,091,000 after buying an additional 5,829 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in McCormick & Company, Incorporated in the 1st quarter worth $260,000. Stratos Wealth Partners LTD. lifted its stake in McCormick & Company, Incorporated by 5.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company’s stock worth $7,267,000 after purchasing an additional 4,771 shares in the last quarter. Retirement Guys Formula LLC purchased a new stake in McCormick & Company, Incorporated in the 1st quarter worth $988,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of McCormick & Company, Incorporated by 10.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company’s stock worth $3,464,000 after buying an additional 3,877 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

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.