Analysts Set McCormick & Company, Incorporated (NYSE:MKC) Target Price at $78.22

Shares of McCormick & Company, Incorporated (NYSE:MKC) have received a consensus rating of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $78.2222.

Several equities research analysts have commented on the company. Barclays dropped their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Citigroup dropped their target price 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. Sanford C. Bernstein dropped their target price on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Jefferies Financial Group decreased their price target on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus decreased their price target on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th.

McCormick & Company, Incorporated Trading Down 1.8%

McCormick & Company, Incorporated stock opened at $65.44 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $68.44 and its two-hundred day simple moving average is $72.22. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24. The company has a market capitalization of $17.56 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 3.86 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.8%. McCormick & Company, Incorporated’s payout ratio is currently 62.28%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total value of $3,293,000.00. Following the completion of the transaction, the insider owned 246,762 shares in the company, valued at $16,251,745.32. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of McCormick & Company, Incorporated by 1.7% in the second quarter. Vanguard Group Inc. now owns 32,427,901 shares of the company’s stock worth $2,458,683,000 after purchasing an additional 553,862 shares during the last quarter. Geode Capital Management LLC increased its position in McCormick & Company, Incorporated by 2.1% during the second quarter. Geode Capital Management LLC now owns 6,375,983 shares of the company’s stock valued at $481,354,000 after acquiring an additional 133,800 shares during the last quarter. T. Rowe Price Investment Management Inc. increased 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. Invesco Ltd. increased its position in McCormick & Company, Incorporated by 44.9% during the second quarter. Invesco Ltd. now owns 3,737,793 shares of the company’s stock valued at $283,399,000 after acquiring an additional 1,158,423 shares during the last quarter. Finally, Norges Bank purchased a new stake in McCormick & Company, Incorporated during the second quarter valued at $249,087,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

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.