McCormick & Company, Incorporated (NYSE:MKC) Receives Consensus Rating of “Hold” from Analysts

Shares of McCormick & Company, Incorporated (NYSE:MKC) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $61.90.

A number of brokerages recently commented on MKC. Sanford C. Bernstein decreased their price target on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. BNP Paribas Exane reduced 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. BTIG Research assumed coverage on McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They issued a “neutral” rating on the stock. TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Finally, JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, June 12th.

McCormick & Company, Incorporated Stock Down 1.7%

MKC opened at $46.41 on Thursday. The stock’s fifty day simple moving average is $49.09 and its 200 day simple moving average is $58.79. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $78.16. The stock has a market cap of $12.47 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, April 20th. McCormick & Company, Incorporated’s payout ratio is presently 31.48%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Gavin Hattersley purchased 2,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were acquired at an average cost of $52.98 per share, with a total value of $105,960.00. Following the completion of the transaction, the director owned 2,906 shares in the company, valued at $153,959.88. The trade was a 220.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.60% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Several large investors have recently made changes to their positions in MKC. GoalVest Advisory LLC acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at about $28,000. Deseret Mutual Benefit Administrators raised its stake in shares of McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after acquiring an additional 164 shares during the last quarter. Motiv8 Investments LLC bought a new position in McCormick & Company, Incorporated during the 4th quarter worth $28,000. Zions Bancorporation National Association UT increased its position 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 valued at $31,000 after purchasing an additional 357 shares during the period. Finally, Union Savings Bank bought a new position in McCormick & Company, Incorporated during the fourth quarter worth $36,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

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.