McCormick & Company, Incorporated (NYSE:MKC) Given Consensus Rating of "Hold" by Brokerages

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) has been given an average recommendation of "Hold" by the nine brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $83.14.

Separately, Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th.

Insider Transactions at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares in the company, valued at $184,497.72. This represents a 54.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,392 shares of company stock worth $4,898,101. 23.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in McCormick & Company, Incorporated by 0.4% during the first quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company's stock worth $2,623,552,000 after purchasing an additional 136,729 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings 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 worth $340,406,000 after purchasing an additional 920,618 shares during the last quarter. Northern Trust Corp boosted its holdings in 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 during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in 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 purchasing an additional 326,041 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $74.22 on Friday. The company has a market cap of $19.90 billion, a P/E ratio of 25.33, a P/E/G ratio of 3.76 and a beta of 0.68. 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 has a 52 week low of $66.88 and a 52 week high of $86.24. The business has a fifty day simple moving average of $74.70 and a 200-day simple moving average of $77.07.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted 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). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same period last year, the firm posted $0.63 EPS. McCormick & Company, Incorporated's revenue was up .2% on a year-over-year basis. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.43%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

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.

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