McCormick & Company, Incorporated (NYSE:MKC) Upgraded at Zacks Research

Zacks Research upgraded shares of McCormick & Company, Incorporated (NYSE:MKC) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other brokerages have also recently issued reports on MKC. JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. UBS Group dropped their price target on McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. Stifel Nicolaus dropped their price target on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. Sanford C. Bernstein dropped their price target on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. Finally, HSBC dropped their price target on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $64.27.

McCormick & Company, Incorporated Stock Up 1.8%

MKC opened at $51.39 on Tuesday. The business’s 50-day simple moving average is $61.28 and its 200-day simple moving average is $64.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. McCormick & Company, Incorporated has a one year low of $47.52 and a one year high of $78.16. The stock has a market capitalization of $13.80 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 2.48 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s revenue was up 16.7% compared to the same quarter last year. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Monday, April 20th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, April 20th. McCormick & Company, Incorporated’s payout ratio is currently 31.48%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $71.63, for a total value of $3,581,500.00. Following the sale, the insider owned 296,992 shares of the company’s stock, valued at approximately $21,273,536.96. The trade was a 14.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $67.09, for a total value of $335,450.00. Following the completion of the sale, the director directly owned 31,596 shares in the company, valued at $2,119,775.64. This represents a 13.66% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 115,000 shares of company stock valued at $7,947,300. 10.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of institutional investors have recently added to or reduced their stakes in MKC. Heartwood Wealth Advisors LLC purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at approximately $28,000. GoalVest Advisory LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter valued at approximately $28,000. Deseret Mutual Benefit Administrators boosted its holdings in McCormick & Company, Incorporated by 67.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after purchasing an additional 164 shares in the last quarter. Motiv8 Investments LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter valued at approximately $28,000. Finally, Zions Bancorporation National Association UT boosted its holdings in McCormick & Company, Incorporated by 340.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after purchasing an additional 357 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

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.