McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $81.50.
A number of brokerages have weighed in on MKC. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $90.00 in a report on Wednesday. Bank of America lifted their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th.
Read Our Latest Stock Report on MKC
Insider Activity at McCormick & Company, Incorporated
Hedge Funds Weigh In On McCormick & Company, Incorporated
Several institutional investors have recently bought and sold shares of MKC. Wallington Asset Management LLC grew its stake in shares of McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after purchasing an additional 136 shares during the period. Aurora Investment Counsel grew its stake in shares of McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Aurora Investment Counsel now owns 8,443 shares of the company’s stock worth $695,000 after purchasing an additional 172 shares during the period. UMB Bank n.a. grew its stake in shares of McCormick & Company, Incorporated by 0.9% during the 3rd quarter. UMB Bank n.a. now owns 20,134 shares of the company’s stock worth $1,657,000 after purchasing an additional 176 shares during the period. Ritholtz Wealth Management grew its stake in shares of McCormick & Company, Incorporated by 0.9% during the 3rd quarter. Ritholtz Wealth Management now owns 19,482 shares of the company’s stock worth $1,603,000 after purchasing an additional 177 shares during the period. Finally, Empirical Finance LLC grew its stake in shares of McCormick & Company, Incorporated by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 8,592 shares of the company’s stock worth $707,000 after purchasing an additional 190 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.
McCormick & Company, Incorporated Stock Down 4.2 %
NYSE MKC opened at $71.40 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The business has a fifty day moving average price of $77.33 and a 200 day moving average price of $77.82. The company has a market cap of $19.16 billion, a P/E ratio of 24.29, a P/E/G ratio of 3.44 and a beta of 0.75. McCormick & Company, Incorporated has a one year low of $63.88 and a one year high of $85.49.
McCormick & Company, Incorporated Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is currently 61.22%.
About McCormick & Company, Incorporated
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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