McCormick & Company, Incorporated (NYSE:MKC) Receives $83.14 Average Target Price from Brokerages

McCormick & Company, Incorporated (NYSE:MKC) has been given an average rating of “Hold” by the nine research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $83.14.

Several research firms have recently issued reports on MKC. JPMorgan Chase & Co. lifted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Barclays reduced their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th.

McCormick & Company, Incorporated Trading Up 1.3 %

Shares of MKC stock opened at $76.72 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The stock has a fifty day simple moving average of $79.25 and a two-hundred day simple moving average of $77.97. The firm has a market capitalization of $20.58 billion, a PE ratio of 26.18, a PEG ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.35%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

Insider Activity

In related news, VP Gregory Repas sold 2,750 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. This represents a 54.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the sale, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,842 shares of company stock valued at $6,478,332 in the last ninety days. Insiders own 23.80% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of large investors have recently bought and sold shares of the business. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $30,000. Salem Investment Counselors Inc. boosted its position in McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock valued at $32,000 after buying an additional 336 shares during the period. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated in the 4th quarter worth about $33,000. Twin Tree Management LP purchased a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $33,000. Finally, Ameriflex Group Inc. bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.