McCormick & Company, Incorporated (NYSE:MKC) Receives $84.13 Average PT from Analysts

Key Points

• McCormick & Company has received an average rating of "Hold" from brokerages, with ratings split into one sell, five holds, three buys, and one strong buy among ten analysts covering the stock.
• The company's stock has a market capitalization of $19.22 billion and reported a quarterly earnings per share (EPS) of $0.69, beating expectations.
• McCormick recently announced a quarterly dividend of $0.45, reflecting a dividend yield of 2.51%, with a payout ratio of 62.50%.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) has earned a consensus recommendation of "Hold" from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $83.00.

Several equities research analysts recently commented on the company. 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. UBS Group began coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective on the stock. Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a report on Tuesday. Finally, Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th.

Insider Transactions at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 23.80% of the stock is owned by company insiders.

Institutional Trading of McCormick & Company, Incorporated

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of McCormick & Company, Incorporated by 0.4% during the first 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 position in shares of McCormick & Company, Incorporated by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock worth $458,114,000 after purchasing an additional 137,679 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of 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 worth $340,406,000 after purchasing an additional 920,618 shares in the last quarter. Northern Trust Corp raised its holdings 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 during the period. Finally, Voya Investment Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 10.2% during the fourth 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 period. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Down 0.1%

Shares of NYSE MKC traded down $0.09 during midday trading on Monday, reaching $71.31. 665,903 shares of the company's stock were exchanged, compared to its average volume of 2,296,862. McCormick & Company, Incorporated has a 52-week low of $69.98 and a 52-week high of $86.24. The stock has a market capitalization of $19.14 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 3.50 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The business's fifty day moving average price is $73.27 and its two-hundred day moving average price is $75.99.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. McCormick & Company, Incorporated's quarterly revenue was up 1.0% compared to the same quarter last year. Analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

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.