McCormick & Company, Incorporated (NYSE:MKC) Given a $120.00 Price Target by Jefferies Group LLC Analysts

Jefferies Group LLC set a $120.00 target price on McCormick & Company, Incorporated (NYSE:MKC) in a research report sent to investors on Monday, October 30th. The firm currently has a buy rating on the stock.

MKC has been the subject of several other reports. BidaskClub raised McCormick & Company, from a hold rating to a buy rating in a research note on Thursday, August 24th. Zacks Investment Research raised McCormick & Company, from a hold rating to a buy rating and set a $114.00 target price for the company in a research note on Monday, October 2nd. Credit Suisse Group raised their target price on McCormick & Company, from $108.00 to $112.00 and gave the stock an outperform rating in a research note on Monday, September 18th. Citigroup Inc. raised their target price on McCormick & Company, from $100.00 to $108.00 and gave the stock a neutral rating in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $103.00 target price (up from $95.00) on shares of McCormick & Company, in a research note on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. McCormick & Company, has an average rating of Buy and an average target price of $106.00.

Shares of McCormick & Company, (NYSE:MKC) traded up $1.41 during trading hours on Monday, hitting $96.92. The stock had a trading volume of 839,700 shares, compared to its average volume of 888,507. McCormick & Company, has a 52-week low of $88.64 and a 52-week high of $106.50. The stock has a market cap of $12,696.23, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 2.45 and a beta of 0.53. The company has a quick ratio of 0.47, a current ratio of 0.95 and a debt-to-equity ratio of 1.86.

McCormick & Company, (NYSE:MKC) last posted its quarterly earnings data on Thursday, September 28th. The company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.07. McCormick & Company, had a return on equity of 26.09% and a net margin of 10.05%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company earned $1.03 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. analysts forecast that McCormick & Company, will post 4.22 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “McCormick & Company, Incorporated (NYSE:MKC) Given a $120.00 Price Target by Jefferies Group LLC Analysts” was originally reported by BBNS and is owned by of BBNS. If you are accessing this report on another publication, it was copied illegally and republished in violation of United States and international copyright and trademark legislation. The original version of this report can be read at https://baseballnewssource.com/markets/mccormick-company-incorporated-mkc-given-a-120-00-price-target-by-jefferies-group-llc-analysts/1744592.html.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Friday, October 6th. McCormick & Company,’s dividend payout ratio (DPR) is 51.93%.

In other news, Director Freeman A. Hrabowski III sold 3,000 shares of McCormick & Company, stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $98.68, for a total value of $296,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $99.50, for a total value of $497,500.00. Following the completion of the transaction, the director now owns 18,825 shares of the company’s stock, valued at approximately $1,873,087.50. The disclosure for this sale can be found here. Insiders sold a total of 13,500 shares of company stock valued at $1,357,840 in the last quarter. Company insiders own 15.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MKC. Amundi Pioneer Asset Management Inc. raised its position in shares of McCormick & Company, by 81.9% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock worth $167,208,000 after acquiring an additional 733,375 shares in the last quarter. Harbour Capital Advisors LLC raised its position in shares of McCormick & Company, by 22,166.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 722,549 shares of the company’s stock worth $7,410,000 after acquiring an additional 719,304 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of McCormick & Company, during the 2nd quarter worth about $306,000. Vanguard Group Inc. raised its position in shares of McCormick & Company, by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 12,264,131 shares of the company’s stock worth $1,195,875,000 after acquiring an additional 301,377 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of McCormick & Company, by 153.3% during the 2nd quarter. Janus Henderson Group PLC now owns 478,259 shares of the company’s stock worth $46,638,000 after acquiring an additional 289,474 shares in the last quarter. 70.14% of the stock is currently owned by institutional investors and hedge funds.

About McCormick & Company,

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.

Analyst Recommendations for McCormick & Company, (NYSE:MKC)

Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with our FREE daily email newsletter.

 


Latest News

Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Brandon Morrow Becomes Hot Commodity
Brandon Morrow Becomes Hot Commodity
Red Sox Want Sluggers, Giancarlo Stanton May Become Available
Red Sox Want Sluggers, Giancarlo Stanton May Become Available


Leave a Reply

 
© 2006-2017 BBNS.