McCormick & Company, Incorporated (NYSE:MKC) Downgraded to “Hold” Rating by Argus

Argus lowered shares of McCormick & Company, Incorporated (NYSE:MKC) from a buy rating to a hold rating in a research note issued to investors on Thursday, MarketBeat.com reports.

MKC has been the topic of several other reports. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. increased their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $81.64 on Thursday. The company has a 50-day simple moving average of $79.09 and a 200-day simple moving average of $78.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market cap of $21.89 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.20%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 23.80% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several hedge funds and other institutional investors have recently bought and sold shares of MKC. Curio Wealth LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $30,000. Albion Financial Group UT acquired a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Twin Tree Management LP acquired a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Ameriflex Group Inc. purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth $33,000. Finally, Lee Danner & Bass Inc. acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $37,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.