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

McCormick & Company, Incorporated (NYSE:MKC) has earned a consensus rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $79.57.

A number of equities research analysts have recently weighed in on MKC shares. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Bank of America upped their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen raised their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd.

McCormick & Company, Incorporated Stock Up 0.9 %

MKC stock opened at $75.31 on Wednesday. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The stock has a market capitalization of $20.21 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 3.38 and a beta of 0.77. The business’s fifty day moving average price is $79.96 and its two-hundred day moving average price is $76.22.

McCormick & Company, Incorporated (NYSE:MKC) last released 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. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm earned $0.65 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.39%. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total value of $395,000.00. Following the sale, the director now directly owns 40,436 shares in the company, valued at approximately $3,194,444. This trade represents a 11.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 over the last 90 days. Insiders own 22.90% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $28,000. Capital Advisors Ltd. LLC boosted its holdings in shares of McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. OFI Invest Asset Management bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth $29,000. Kennebec Savings Bank bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth $40,000. Finally, 1620 Investment Advisors Inc. acquired a new position in McCormick & Company, Incorporated in the 2nd quarter worth about $35,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Company Profile

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.