UBS Group Cuts McCormick & Company, Incorporated (NYSE:MKC) Price Target to $71.00

McCormick & Company, Incorporated (NYSE:MKC) had its price target reduced by UBS Group from $79.00 to $71.00 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Citigroup lowered their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, June 17th. Wall Street Zen lowered shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Stifel Nicolaus decreased their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a report on Tuesday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Finally, Jefferies Financial Group decreased their price target on shares of McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $80.29.

McCormick & Company, Incorporated Stock Up 1.2%

Shares of MKC opened at $68.92 on Wednesday. The business’s fifty day moving average price is $69.02 and its two-hundred day moving average price is $72.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. McCormick & Company, Incorporated has a 52 week low of $63.66 and a 52 week high of $86.24. The firm has a market capitalization of $18.50 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 3.38 and a beta of 0.63.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.50%.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several institutional investors and hedge funds have recently added to or reduced their stakes in MKC. Bank of Jackson Hole Trust bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth about $25,000. Capital Analysts LLC bought a new stake in McCormick & Company, Incorporated during the 1st quarter worth about $26,000. Elevation Point Wealth Partners LLC bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth about $27,000. Zions Bancorporation National Association UT bought a new stake in McCormick & Company, Incorporated during the 1st quarter worth about $28,000. Finally, Wayfinding Financial LLC bought a new stake in McCormick & Company, Incorporated during the 1st quarter worth about $30,000. 79.74% of the stock is owned by institutional investors.

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.