McCormick & Company, Incorporated (NYSE:MKC) Now Covered by UBS Group

UBS Group began coverage on shares of McCormick & Company, Incorporated (NYSE:MKC) in a report released on Monday, MarketBeat reports. The firm issued a neutral rating and a $83.00 price objective on the stock.

Separately, Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.14.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $73.83 on Monday. The company has a market capitalization of $19.80 billion, a P/E ratio of 25.20, a P/E/G ratio of 3.76 and a beta of 0.68. The business has a fifty day simple moving average of $74.57 and a two-hundred day simple moving average of $76.95. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. On average, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.44%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.86%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares of the company’s stock, valued at $20,242,820.97. The trade was a 16.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,392 shares of company stock valued at $4,898,101. Corporate insiders own 23.80% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of McCormick & Company, Incorporated by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company’s stock valued at $2,623,552,000 after purchasing an additional 136,729 shares during the last quarter. Geode Capital Management LLC boosted its stake in McCormick & Company, Incorporated by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company’s stock worth $458,114,000 after buying an additional 137,679 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in McCormick & Company, Incorporated by 28.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after acquiring an additional 920,618 shares during the last quarter. Northern Trust Corp raised its stake in shares of McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock worth $281,573,000 after acquiring an additional 531,060 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 10.2% in the 4th quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company’s stock worth $269,060,000 after acquiring an additional 326,041 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.