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

McCormick & Company, Incorporated (NYSE:MKC) has earned an average recommendation of “Hold” from the eleven brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $107.67.

MKC has been the subject of several research reports. Jefferies Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of McCormick & Company, Incorporated in a research note on Thursday, January 25th. Zacks Investment Research raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday. Credit Suisse Group set a $115.00 price objective on shares of McCormick & Company, Incorporated and gave the company a “buy” rating in a research note on Tuesday, December 12th. Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $103.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, January 26th. Finally, UBS Group upped their price objective on shares of McCormick & Company, Incorporated from $100.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, January 26th.

Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at $102.71 on Wednesday. The company has a market cap of $13,351.73, a PE ratio of 27.76, a PEG ratio of 2.23 and a beta of 0.61. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.42 and a current ratio of 0.83. McCormick & Company, Incorporated has a one year low of $90.25 and a one year high of $109.67.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, January 25th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. McCormick & Company, Incorporated had a net margin of 9.88% and a return on equity of 25.30%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 earnings per share. research analysts forecast that McCormick & Company, Incorporated will post 4.88 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.03%. The ex-dividend date was Thursday, December 28th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. McCormick & Company, Incorporated’s dividend payout ratio is currently 56.22%.

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 6,250 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $108.63, for a total value of $678,937.50. Following the transaction, the director now directly owns 15,497 shares in the company, valued at approximately $1,683,439.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael R. Smith sold 2,575 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $107.96, for a total transaction of $277,997.00. Following the completion of the transaction, the vice president now owns 17,312 shares in the company, valued at $1,869,003.52. The disclosure for this sale can be found here. 15.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of MKC. Amundi Pioneer Asset Management Inc. boosted its holdings in McCormick & Company, Incorporated by 81.9% in 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 purchasing an additional 733,375 shares during the last quarter. Jennison Associates LLC acquired a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $43,817,000. Darrell & King LLC acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at about $34,615,000. Koch Industries Inc. acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at about $306,000. Finally, Eaton Vance Management boosted its holdings in McCormick & Company, Incorporated by 38.0% in the 4th quarter. Eaton Vance Management now owns 872,011 shares of the company’s stock valued at $88,866,000 after purchasing an additional 240,274 shares during the last quarter. Institutional investors own 76.16% of the company’s stock.

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McCormick & Company, Incorporated Company Profile

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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