McCormick & Company, Incorporated (NYSE:MKC) Receives Average Rating of “Hold” from Analysts

McCormick & Company, Incorporated (NYSE:MKC) has earned a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $64.2727.

Several brokerages recently weighed in on MKC. Jefferies Financial Group reduced their target price on shares of McCormick & Company, Incorporated from $81.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. TD Cowen cut their price objective on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Monday, April 27th. Finally, BNP Paribas Exane cut their price objective on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st.

Insiders Place Their Bets

In related news, Director Gavin Hattersley acquired 2,000 shares of the business’s stock in a transaction on Friday, April 10th. The shares were bought at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the acquisition, the director owned 2,906 shares in the company, valued at $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.60% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GoalVest Advisory LLC acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $28,000. Deseret Mutual Benefit Administrators raised its holdings in McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after purchasing an additional 164 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $28,000. Zions Bancorporation National Association UT raised its holdings in McCormick & Company, Incorporated by 340.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock worth $31,000 after purchasing an additional 357 shares in the last quarter. Finally, SouthState Bank Corp raised its holdings in McCormick & Company, Incorporated by 1,777.8% during the third quarter. SouthState Bank Corp now owns 507 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.8%

Shares of NYSE:MKC opened at $47.82 on Friday. The firm’s 50 day moving average price is $51.10 and its 200 day moving average price is $61.14. The stock has a market cap of $12.85 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $78.16. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a yield of 4.0%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 31.48%.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.