McCormick & Company, (NYSE: MKC) recently received a number of ratings updates from brokerages and research firms:

  • 10/2/2017 – McCormick & Company, had its price target raised by analysts at Citigroup Inc. from $100.00 to $108.00. They now have a “neutral” rating on the stock.
  • 10/2/2017 – McCormick & Company, was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $114.00 price target on the stock. According to Zacks, “McCormick outpaced the Zacks Consensus Estimate for both earnings and revenues in third-quarter fiscal 2017. In fact, the company has delivered positive earnings surprise in 13 of the last 15 quarters. McCormick’s price history also reveals that on a year-to-date basis, the stock has outperformed the industry. Adjusted earnings of $1.12 grew 9%, on the back of higher sales and operating income as well as cost savings which were offset by an increase in brand marketing and material costs and currency headwinds. The company has been witnessing rising demand for spices, herbs and seasonings in the United States. Acquisition of RB Foods and Enrico Giotti SpA and a shift in the portfolio to more value added products also boosted sales. The company has also raised its sales, operating income and earnings guidance to reflect the acquisition of RB Foods. Moreover, the company expects lower currency impact on fiscal 2017 earnings.”
  • 10/2/2017 – McCormick & Company, had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $103.00 price target on the stock, up previously from $95.00.
  • 9/29/2017 – McCormick & Company, had its “buy” rating reaffirmed by analysts at Credit Suisse Group. They now have a $115.00 price target on the stock, up previously from $112.00.
  • 9/18/2017 – McCormick & Company, had its price target raised by analysts at Credit Suisse Group from $108.00 to $112.00. They now have an “outperform” rating on the stock.
  • 8/31/2017 – McCormick & Company, had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $110.00 price target on the stock.
  • 8/30/2017 – McCormick & Company, was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “McCormick’s shares have underperformed the Consumer Staples sector over the past six months, owing to increasing input material costs that have been hurting its margins. Also, the company’s EMEA business has remained sluggish due to a difficult economic environment, particularly in the U.K. Nevertheless, McCormick’s strategic acquisitions have been aiding top-line growth. It recently completed the acquisition of the food division of Reckitt Benckiser Group, which is expected to place the company as one of the leading companies in the U.S. condiments category. It also focuses on saving costs and enhancing productivity through its ongoing Comprehensive Continuous Improvement program. Product innovation and brand marketing support have also contributed to the growth of the company’s sales. Going forward, the company anticipates pricing actions to offset an anticipated mid-single digit increase in material costs in fiscal 2017.”
  • 8/29/2017 – McCormick & Company, was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $106.00 price target on the stock. According to Zacks, “McCormick’s shares have outperformed the industry on a year-to-date basis, primarily owing to its strategic initiatives. The company has been steadily widening its portfolio through acquisitions. Recently, it completed the buyout of Reckitt’s food division, which is expected to position McCormick as one of the leading companies in the U.S. condiments category. Also, the company has been gaining from its product innovation, brand marketing support and expanded distribution as well as pricing actions. Furthermore, it remains focused on saving costs and enhancement of productivity through the ongoing Comprehensive Continuous Improvement program. However, adverse impacts of higher material costs and currency translations continue to pose threats to the company. Such impacts are likely to persist throughout fiscal 2017.”
  • 8/24/2017 – McCormick & Company, was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/23/2017 – McCormick & Company, was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “McCormick has been steadily widening its portfolio through acquisitions. Recently it completed the buyout of Reckitt’s food division, which is expected to position McCormick as one of the leading companies in the U.S. condiments category. Such actions have also propelled the shares of the company to go up and surpass the industry over the past one month. Acquisitions of Gourmet Garden and Enrico Giotti SpA have also aided sales growth during the second quarter. Brand marketing support, expanded distribution as well as pricing actions have also been aiding McCormick to deliver a strong performance. It has also been focusing on saving costs and enhancing productivity through its ongoing Comprehensive Continuous Improvement program. Nevertheless, negative impacts of material costs and currency continue to pose as challenges. Such impacts are likely to persist throughout fiscal 2017.”

McCormick & Company, Incorporated (MKC) opened at 98.08 on Wednesday. McCormick & Company, Incorporated has a 1-year low of $88.64 and a 1-year high of $106.50. The stock has a market cap of $12.22 billion, a PE ratio of 26.05 and a beta of 0.53. The company’s 50 day moving average is $97.31 and its 200-day moving average is $98.89.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Friday, October 6th. McCormick & Company,’s dividend payout ratio (DPR) is 51.93%.

In other McCormick & Company, news, VP Michael R. Smith sold 5,500 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $102.60, for a total value of $564,300.00. Following the transaction, the vice president now owns 19,248 shares in the company, valued at approximately $1,974,844.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.30% of the company’s stock.

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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