Stifel Nicolaus Raises McCormick & Company, Incorporated (NYSE:MKC) Price Target to $75.00

McCormick & Company, Incorporated (NYSE:MKCFree Report) had its target price upped by Stifel Nicolaus from $70.00 to $75.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an underweight rating on the stock in a report on Friday, January 26th. Citigroup increased their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a sell rating in a report on Wednesday. Barclays decreased their price target on shares of McCormick & Company, Incorporated from $74.00 to $71.00 and set an equal weight rating on the stock in a report on Tuesday, January 16th. Finally, Consumer Edge lowered shares of McCormick & Company, Incorporated from an overweight rating to an equal weight rating in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $75.63.

View Our Latest Report on MKC

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $76.02 on Wednesday. The stock has a market capitalization of $20.39 billion, a P/E ratio of 30.17, a PEG ratio of 3.80 and a beta of 0.73. The company has a current ratio of 0.65, a quick ratio of 0.28 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $67.73 and its 200 day moving average is $67.74. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last posted its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.22% and a return on equity of 14.55%. McCormick & Company, Incorporated’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 EPS. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.82 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio is 66.67%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the sale, the director now directly owns 39,181 shares of the company’s stock, valued at approximately $2,554,601.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Union Savings Bank bought a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at about $27,000. Legacy Financial Group LLC bought a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at about $29,000. Anchor Investment Management LLC bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at about $36,000. VisionPoint Advisory Group LLC bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at about $44,000. Finally, Point72 Hong Kong Ltd bought a new stake in McCormick & Company, Incorporated during the 1st quarter valued at about $44,000. 79.74% of the stock is currently owned by institutional investors.

About McCormick & Company, Incorporated

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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.

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Analyst Recommendations for McCormick & Company, Incorporated (NYSE:MKC)

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