McCormick & Company, Incorporated (NYSE:MKC) Stock Rating Upgraded by Jefferies Group LLC
Jefferies Group LLC upgraded shares of McCormick & Company, Incorporated (NYSE:MKC) from a hold rating to a buy rating in a report released on Friday, Marketbeat Ratings reports. The firm currently has $110.00 price objective on the stock, up from their previous price objective of $95.00.
A number of other equities research analysts also recently commented on MKC. Zacks Investment Research raised shares of McCormick & Company, from a hold rating to a buy rating and set a $117.00 target price for the company in a research report on Thursday, June 1st. Credit Suisse Group set a $108.00 target price on shares of McCormick & Company, and gave the stock a buy rating in a research report on Saturday, July 1st. BidaskClub downgraded shares of McCormick & Company, from a buy rating to a hold rating in a research report on Friday, June 30th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of McCormick & Company, in a research report on Friday, June 16th. They set a neutral rating and a $101.00 price objective for the company. Finally, Edward Jones raised shares of McCormick & Company, from a hold rating to a buy rating in a research report on Tuesday, July 4th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $104.00.
McCormick & Company, (MKC) opened at 95.30 on Friday. The company has a 50-day moving average price of $97.91 and a 200 day moving average price of $98.97. The stock has a market cap of $11.87 billion, a P/E ratio of 25.31 and a beta of 0.52. McCormick & Company, has a 1-year low of $88.64 and a 1-year high of $106.50.
McCormick & Company, (NYSE:MKC) last posted its earnings results on Thursday, June 29th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. The firm’s revenue was up 4.8% on a year-over-year basis. Equities analysts expect that McCormick & Company, will post $4.08 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 10th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, July 6th. McCormick & Company,’s payout ratio is 49.87%.
In other McCormick & Company, news, Director Maritza Gomez Montiel acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was purchased at an average price of $99.62 per share, with a total value of $249,050.00. Following the transaction, the director now directly owns 2,500 shares in the company, valued at approximately $249,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 15.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MKC. Douglass Winthrop Advisors LLC boosted its position in McCormick & Company, by 1.7% in the first quarter. Douglass Winthrop Advisors LLC now owns 2,542 shares of the company’s stock worth $248,000 after buying an additional 42 shares during the period. Charter Trust Co. purchased a new position in McCormick & Company, during the first quarter worth $202,000. Raymond James Trust N.A. boosted its position in McCormick & Company, by 0.4% in the first quarter. Raymond James Trust N.A. now owns 4,527 shares of the company’s stock worth $442,000 after buying an additional 16 shares during the period. Trust Co boosted its position in McCormick & Company, by 0.3% in the fourth quarter. Trust Co now owns 31,205 shares of the company’s stock worth $2,913,000 after buying an additional 108 shares during the period. Finally, Chevy Chase Trust Holdings Inc. boosted its position in McCormick & Company, by 2.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 106,335 shares of the company’s stock worth $10,373,000 after buying an additional 2,126 shares during the period. Institutional investors own 73.73% of the company’s stock.
McCormick & Company, Company Profile
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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