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

McCormick & Company, Incorporated (NYSE:MKC) has received a consensus rating of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $76.6250.

Several equities research analysts have commented on MKC shares. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. JPMorgan Chase & Co. cut their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $87.00 price objective on shares of McCormick & Company, Incorporated in a research note on Thursday, December 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Finally, Jefferies Financial Group increased their price objective on McCormick & Company, Incorporated from $78.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th.

Insider Activity at McCormick & Company, Incorporated

In other news, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value of $3,746,360.64. Following the transaction, the chief executive officer owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. This represents a 34.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $67.43, for a total value of $3,371,500.00. Following the sale, the insider directly owned 246,762 shares of the company’s stock, valued at $16,639,161.66. This represents a 16.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 146,158 shares of company stock worth $9,635,824 over the last quarter. Corporate insiders own 23.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dorato Capital Management purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $298,000. Blue Trust Inc. raised its position in shares of McCormick & Company, Incorporated by 11.9% during the 4th quarter. Blue Trust Inc. now owns 1,987 shares of the company’s stock valued at $135,000 after buying an additional 211 shares in the last quarter. Tema Etfs LLC lifted its holdings in shares of McCormick & Company, Incorporated by 19.6% during the 4th quarter. Tema Etfs LLC now owns 4,611 shares of the company’s stock worth $314,000 after acquiring an additional 756 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in McCormick & Company, Incorporated in the fourth quarter worth $438,000. Finally, Nisa Investment Advisors LLC grew its position in McCormick & Company, Incorporated by 10.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 33,867 shares of the company’s stock worth $2,323,000 after acquiring an additional 3,169 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $67.00 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. The business has a fifty day simple moving average of $66.81 and a two-hundred day simple moving average of $68.09. McCormick & Company, Incorporated has a 1 year low of $62.64 and a 1 year high of $86.24. The company has a market capitalization of $17.98 billion, a P/E ratio of 23.18, a P/E/G ratio of 4.02 and a beta of 0.62.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were issued a dividend of $0.48 per share. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, December 29th. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. McCormick & Company, Incorporated’s payout ratio is currently 66.44%.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.