Jefferies Financial Group Issues Positive Forecast for McCormick & Company, Incorporated (NYSE:MKC) Stock Price

McCormick & Company, Incorporated (NYSE:MKC) had its target price raised by Jefferies Financial Group from $78.00 to $79.00 in a report released on Tuesday morning,MarketScreener reports. They currently have a buy rating on the stock.

MKC has been the topic of several other reports. Sanford C. Bernstein restated an “outperform” rating and set a $87.00 price objective on shares of McCormick & Company, Incorporated in a research note on Thursday, December 11th. UBS Group dropped their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Deutsche Bank Aktiengesellschaft raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, December 15th. Finally, Barclays decreased their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $76.63.

McCormick & Company, Incorporated Stock Up 0.2%

Shares of MKC stock traded up $0.14 during trading hours on Tuesday, reaching $68.71. The company had a trading volume of 2,759,619 shares, compared to its average volume of 3,159,823. The company has a market cap of $18.44 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 4.02 and a beta of 0.62. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. McCormick & Company, Incorporated has a 12 month low of $62.64 and a 12 month high of $86.24. The business has a fifty day simple moving average of $66.67 and a 200-day simple moving average of $68.27.

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 paid a $0.48 dividend. The ex-dividend date was Monday, December 29th. This is a positive change 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 2.8%. McCormick & Company, Incorporated’s dividend payout ratio is presently 66.44%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Tuesday, January 13th. The stock was 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 directly owned 246,762 shares of the company’s stock, valued at approximately $16,639,161.66. This represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brendan M. Foley sold 57,144 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the sale, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at $7,123,225.12. This represents a 34.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 146,158 shares of company stock valued at $9,635,824 over the last three months. Insiders own 23.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MKC. SBI Securities Co. Ltd. raised its stake in McCormick & Company, Incorporated by 4.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,239 shares of the company’s stock valued at $246,000 after acquiring an additional 148 shares during the period. Rafferty Asset Management LLC increased its stake in shares of McCormick & Company, Incorporated by 0.7% in the third quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock worth $1,443,000 after purchasing an additional 157 shares in the last quarter. Ransom Advisory Ltd increased its stake in shares of McCormick & Company, Incorporated by 3.6% in the fourth quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock worth $315,000 after purchasing an additional 160 shares in the last quarter. ORG Partners LLC raised its position in shares of McCormick & Company, Incorporated by 13.2% in the second quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock valued at $115,000 after purchasing an additional 173 shares during the period. Finally, Nicholson Wealth Management Group LLC lifted its stake in shares of McCormick & Company, Incorporated by 1.0% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 19,127 shares of the company’s stock valued at $1,450,000 after buying an additional 181 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

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.