McCormick & Company, Incorporated (NYSE:MKC) Given Consensus Recommendation of “Hold” by Brokerages

McCormick & Company, Incorporated (NYSE:MKC) has received an average rating of “Hold” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $61.90.

MKC has been the subject of a number of research reports. Zacks Research raised McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. UBS Group decreased their price objective on McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Barclays decreased their price objective on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Stifel Nicolaus decreased their price objective on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. Finally, BNP Paribas Exane decreased their price objective on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Gavin Hattersley purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the purchase, the director directly owned 2,906 shares in the company, valued at approximately $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several institutional investors and hedge funds have recently modified their holdings of MKC. GoalVest Advisory LLC purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $28,000. Deseret Mutual Benefit Administrators increased its stake in shares of McCormick & Company, Incorporated by 67.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after purchasing an additional 164 shares in the last quarter. Motiv8 Investments LLC purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $28,000. Zions Bancorporation National Association UT increased its stake in McCormick & Company, Incorporated by 340.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock worth $31,000 after buying an additional 357 shares in the last quarter. Finally, Union Savings Bank purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $47.46 on Thursday. The firm has a market capitalization of $12.75 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 2.34 and a beta of 0.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $78.16. The company’s fifty day moving average price is $48.55 and its 200-day moving average price is $58.13.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, July 6th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, July 6th. McCormick & Company, Incorporated’s payout ratio is 31.48%.

McCormick & Company, Incorporated Company Profile

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.