McCormick & Company, Incorporated (NYSE:MKC) Receives $83.14 Consensus PT from Analysts

Shares of McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) have been assigned an average recommendation of "Hold" from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $83.14.

Several research analysts recently commented on MKC shares. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays lowered their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 80,842 shares of company stock valued at $6,478,332. Corporate insiders own 23.80% of the company's stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of McCormick & Company, Incorporated by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock valued at $2,419,653,000 after buying an additional 303,973 shares during the period. Geode Capital Management LLC boosted its position in McCormick & Company, Incorporated by 2.3% during the 4th 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 during the period. Northern Trust Corp lifted its stake 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 purchasing an additional 531,060 shares in the last quarter. Voya Investment Management LLC boosted its holdings in McCormick & Company, Incorporated by 10.2% in the 4th 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. Finally, T. Rowe Price Investment Management Inc. grew its holdings in McCormick & Company, Incorporated by 6.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company's stock valued at $245,114,000 after purchasing an additional 190,856 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Down 1.3 %

Shares of MKC traded down $1.03 during trading on Friday, reaching $75.57. 259,850 shares of the company traded hands, compared to its average volume of 1,954,456. The stock has a 50-day simple moving average of $79.25 and a 200-day simple moving average of $77.97. The stock has a market cap of $20.27 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

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.