McCormick & Company, Incorporated (NYSE:MKC) Upgraded to Buy by Argus

Argus upgraded shares of McCormick & Company, Incorporated (NYSE:MKCFree Report) from a hold rating to a buy rating in a report published on Tuesday morning, Marketbeat reports. They currently have $88.00 target price on the stock.

MKC has been the topic of a number of other reports. JPMorgan Chase & Co. reduced 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 research report on Friday, January 26th. Consumer Edge lowered shares of McCormick & Company, Incorporated from an overweight rating to an equal weight rating in a research report on Monday, January 22nd. Stifel Nicolaus upped their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a hold rating in a research report on Wednesday, March 27th. Citigroup upped their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a sell rating in a research report on Wednesday, March 27th. Finally, Barclays upped their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an equal weight rating in a research report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $77.88.

View Our Latest Report on MKC

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $78.27 on Tuesday. The firm has a market cap of $21.00 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 3.97 and a beta of 0.74. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $68.66 and its two-hundred day moving average price is $67.62.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm 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 10.56% and a return on equity of 14.45%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 2.83 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 64.12%.

Insider Buying and Selling

In related news, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the sale, the director now directly owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares of the company’s stock, valued at $430,738. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the sale, the director now directly owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. Insiders sold a total of 32,000 shares of company stock valued at $2,376,400 over the last ninety days. Insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Large investors have recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its position in shares of McCormick & Company, Incorporated by 92,736.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,770,708 shares of the company’s stock worth $478,334,000 after acquiring an additional 5,764,492 shares in the last quarter. Norges Bank bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $160,999,000. Massachusetts Financial Services Co. MA increased its position in shares of McCormick & Company, Incorporated by 41.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock worth $366,667,000 after acquiring an additional 1,577,636 shares in the last quarter. Alecta Tjanstepension Omsesidigt bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $92,340,000. Finally, Holocene Advisors LP bought a new stake in shares of McCormick & Company, Incorporated during the second quarter worth $77,091,000. Institutional investors own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

(Get Free Report)

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

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

Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.