McCormick & Company, Incorporated (NYSE:MKC) Price Target Lowered to $71.00 at UBS Group

McCormick & Company, Incorporated (NYSE:MKC) had its price objective reduced by UBS Group from $79.00 to $71.00 in a research note released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other analysts have also issued reports about the company. Wall Street Zen lowered McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Stifel Nicolaus dropped their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a report on Tuesday, July 29th. Citigroup dropped their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, June 17th. Jefferies Financial Group dropped their price target on McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. Finally, JPMorgan Chase & Co. lowered their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $80.29.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $67.80 on Wednesday. The business’s fifty day simple moving average is $69.14 and its 200 day simple moving average is $73.12. The firm has a market capitalization of $18.19 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 3.32 and a beta of 0.63. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated’s payout ratio is presently 62.50%.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFM Investors Pty Ltd raised its stake in shares of McCormick & Company, Incorporated by 13.3% during the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company’s stock valued at $4,091,000 after purchasing an additional 5,829 shares during the period. Sowell Financial Services LLC bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at $260,000. Stratos Wealth Partners LTD. raised its stake in shares of McCormick & Company, Incorporated by 5.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company’s stock valued at $7,267,000 after purchasing an additional 4,771 shares during the period. Retirement Guys Formula LLC bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at $988,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of McCormick & Company, Incorporated by 10.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company’s stock valued at $3,464,000 after purchasing an additional 3,877 shares during the period. 79.74% of the stock is currently 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.