McCormick & Company, Incorporated (NYSE:MKC) Receives $87.00 Average Target Price from Analysts

McCormick & Company, Incorporated (NYSE:MKCGet Rating) has been given an average recommendation of “Hold” by the six research firms that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $87.00.

MKC has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McCormick & Company, Incorporated from $85.00 to $79.00 and set a “hold” rating on the stock in a research note on Thursday, September 8th. Barclays cut their price objective on shares of McCormick & Company, Incorporated from $94.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Finally, TheStreet lowered McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a research note on Wednesday, June 15th.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 10,580 shares of the firm’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total value of $893,375.20. Following the transaction, the director now owns 12,660 shares in the company, valued at $1,069,010.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC boosted its position in shares of McCormick & Company, Incorporated by 16.6% during the 1st quarter. SG Americas Securities LLC now owns 28,717 shares of the company’s stock valued at $2,866,000 after acquiring an additional 4,096 shares during the last quarter. AE Wealth Management LLC raised its position in shares of McCormick & Company, Incorporated by 4.8% during the 1st quarter. AE Wealth Management LLC now owns 22,114 shares of the company’s stock valued at $2,207,000 after buying an additional 1,011 shares during the period. Park Avenue Securities LLC lifted its holdings in McCormick & Company, Incorporated by 5.8% in the first quarter. Park Avenue Securities LLC now owns 2,292 shares of the company’s stock valued at $229,000 after acquiring an additional 126 shares during the last quarter. Beaumont Financial Partners LLC acquired a new stake in McCormick & Company, Incorporated during the first quarter worth $405,000. Finally, JustInvest LLC raised its position in McCormick & Company, Incorporated by 126.1% in the fourth quarter. JustInvest LLC now owns 14,039 shares of the company’s stock valued at $1,356,000 after purchasing an additional 7,829 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Down 0.1 %

NYSE MKC opened at $79.41 on Monday. McCormick & Company, Incorporated has a 1 year low of $77.67 and a 1 year high of $107.35. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market capitalization of $21.31 billion, a PE ratio of 31.39, a P/E/G ratio of 5.64 and a beta of 0.51. The company has a fifty day moving average of $85.80 and a 200 day moving average of $91.85.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.17). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 10.78% and a return on equity of 16.48%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. Research analysts forecast that McCormick & Company, Incorporated will post 2.66 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, July 11th were given a $0.37 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.48 annualized dividend and a dividend yield of 1.86%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 58.50%.

About McCormick & Company, Incorporated

(Get Rating)

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.

Further Reading

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