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

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) has received an average recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $77.88.

A number of equities analysts have recently commented on MKC shares. Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Tuesday, April 2nd. Barclays raised their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Finally, Citigroup raised their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Wednesday, March 27th.

View Our Latest Stock Analysis on McCormick & Company, Incorporated

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at $14,695,277.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated 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 transaction, the director now directly 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 is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 80,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the transaction, the director now directly owns 199,258 shares in the company, valued at $14,695,277.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,458 shares of company stock valued at $8,286,114. 22.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in McCormick & Company, Incorporated by 64.6% in the third quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock valued at $8,216,000 after acquiring an additional 42,625 shares during the last quarter. Cullen Investment Group LTD. acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $5,728,000. International Assets Investment Management LLC boosted its position in McCormick & Company, Incorporated by 7,344.4% in the fourth quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock valued at $7,946,000 after buying an additional 114,572 shares in the last quarter. abrdn plc boosted its position in McCormick & Company, Incorporated by 19.1% in the fourth quarter. abrdn plc now owns 443,332 shares of the company’s stock valued at $30,333,000 after buying an additional 71,133 shares in the last quarter. Finally, Jacobs & Co. CA boosted its position in McCormick & Company, Incorporated by 12.7% in the fourth quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock valued at $9,780,000 after buying an additional 16,098 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $71.31 on Wednesday. The stock has a 50-day moving average price of $74.37 and a two-hundred day moving average price of $69.70. The stock has a market cap of $19.14 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 3.70 and a beta of 0.73. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the business posted $0.59 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.36%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

McCormick & Company, Incorporated Company Profile

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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.

Further Reading

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

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