McCormick & Company, Incorporated (MKC) Given Average Rating of “Hold” by Analysts

McCormick & Company, Incorporated (NYSE:MKC) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $105.25.

MKC has been the subject of several analyst reports. Credit Suisse Group restated a “buy” rating and issued a $115.00 target price (up previously from $112.00) on shares of McCormick & Company, Incorporated in a research note on Friday, September 29th. Citigroup raised their target price on McCormick & Company, Incorporated from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded McCormick & Company, Incorporated 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. Stifel Nicolaus restated a “hold” rating and issued a $103.00 target price (up previously from $95.00) on shares of McCormick & Company, Incorporated in a research note on Monday, October 2nd. Finally, Jefferies Group set a $115.00 target price on McCormick & Company, Incorporated and gave the stock a “buy” rating in a research note on Saturday, October 7th.

McCormick & Company, Incorporated (NYSE MKC) opened at $99.19 on Friday. McCormick & Company, Incorporated has a 12 month low of $90.25 and a 12 month high of $106.50. The company has a quick ratio of 0.47, a current ratio of 0.95 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $12,990.00, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.32 and a beta of 0.53.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Thursday, December 28th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 57.62%.

In other news, Director Maritza Gomez Montiel sold 2,500 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $96.26, for a total transaction of $240,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated 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 sale, 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. Company insiders own 15.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Toronto Dominion Bank boosted its position in shares of McCormick & Company, Incorporated by 24.3% during the 2nd quarter. Toronto Dominion Bank now owns 39,362 shares of the company’s stock valued at $3,838,000 after acquiring an additional 7,684 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of McCormick & Company, Incorporated by 81.9% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock valued at $167,208,000 after buying an additional 733,375 shares in the last quarter. Twin Capital Management Inc. purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at about $930,000. Oppenheimer & Co. Inc. raised its holdings in shares of McCormick & Company, Incorporated by 4.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 41,323 shares of the company’s stock valued at $4,241,000 after buying an additional 1,698 shares in the last quarter. Finally, Trillium Asset Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 12.2% during the 3rd quarter. Trillium Asset Management LLC now owns 253,788 shares of the company’s stock valued at $26,049,000 after buying an additional 27,677 shares in the last quarter. Hedge funds and other institutional investors own 76.19% of the company’s stock.

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About McCormick & Company, Incorporated

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, Incorporated (NYSE:MKC)

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