McCormick & Company, Incorporated (MKC) Given “Hold” Rating at Stifel Nicolaus
Stifel Nicolaus reaffirmed their hold rating on shares of McCormick & Company, Incorporated (NYSE:MKC) in a research report report published on Monday morning. They currently have a $103.00 target price on the stock, up from their previous target price of $95.00.
A number of other research analysts have also recently issued reports on MKC. Zacks Investment Research upgraded shares of McCormick & Company, from a hold rating to a buy rating and set a $114.00 price objective for the company in a report on Monday. Citigroup Inc. raised their price target on shares of McCormick & Company, from $100.00 to $108.00 and gave the company a neutral rating in a research report on Monday. Credit Suisse Group reaffirmed a buy rating and issued a $115.00 price objective (up previously from $112.00) on shares of McCormick & Company, in a research report on Friday, September 29th. Jefferies Group LLC reaffirmed a buy rating and issued a $110.00 price objective on shares of McCormick & Company, in a research report on Thursday, August 31st. Finally, BidaskClub raised shares of McCormick & Company, from a hold rating to a buy rating in a research report on Thursday, August 24th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $105.00.
Shares of McCormick & Company, (NYSE MKC) opened at 98.32 on Monday. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 26.11 and a beta of 0.53. The firm’s 50-day moving average is $97.41 and its 200-day moving average is $98.89. McCormick & Company, has a 12-month low of $88.64 and a 12-month high of $106.50.
McCormick & Company, (NYSE:MKC) last announced its earnings results on Thursday, September 28th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. McCormick & Company,’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. Analysts predict that McCormick & Company, will post $4.22 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, October 6th. McCormick & Company,’s dividend payout ratio (DPR) is 51.93%.
In other news, VP Michael R. Smith sold 5,500 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $102.60, for a total transaction of $564,300.00. Following the sale, the vice president now owns 19,248 shares of the company’s stock, valued at approximately $1,974,844.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.30% of the company’s stock.
Several large investors have recently modified their holdings of the company. Bath Savings Trust Co lifted its stake in shares of McCormick & Company, by 4.3% in the 3rd quarter. Bath Savings Trust Co now owns 89,004 shares of the company’s stock worth $9,135,000 after purchasing an additional 3,635 shares during the period. Toronto Dominion Bank raised its stake in McCormick & Company, by 24.3% during the 2nd quarter. Toronto Dominion Bank now owns 39,362 shares of the company’s stock worth $3,838,000 after acquiring an additional 7,684 shares during the period. Advisory Services Network LLC raised its stake in McCormick & Company, by 4.5% during the 2nd quarter. Advisory Services Network LLC now owns 2,981 shares of the company’s stock worth $291,000 after acquiring an additional 128 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in McCormick & Company, during the 2nd quarter worth approximately $1,684,000. Finally, WINTON GROUP Ltd raised its stake in McCormick & Company, by 1.4% during the 2nd quarter. WINTON GROUP Ltd now owns 23,338 shares of the company’s stock worth $2,276,000 after acquiring an additional 333 shares during the period. Hedge funds and other institutional investors own 72.74% of the company’s stock.
About McCormick & Company,
McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.
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