TD Cowen Upgrades McCormick & Company, Incorporated (NYSE:MKC) to Buy

TD Cowen upgraded shares of McCormick & Company, Incorporated (NYSE:MKC) from a hold rating to a buy rating in a report published on Wednesday, MarketBeat reports. The brokerage currently has $90.00 price target on the stock, up from their previous price target of $86.00.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America lifted their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $81.50.

McCormick & Company, Incorporated Stock Up 0.3 %

Shares of MKC opened at $74.54 on Wednesday. The firm has a market cap of $20.00 billion, a P/E ratio of 25.35, a PEG ratio of 3.44 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49. The stock’s 50 day moving average is $77.55 and its two-hundred day moving average is $77.76. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the director now owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 20,000 shares of company stock worth $1,565,850. Insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $28,000. Strategic Investment Solutions Inc. IL acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at about $39,000. Kennebec Savings Bank acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at about $40,000. Friedenthal Financial purchased a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $49,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.