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

Key Points

• Analysts give McCormick a consensus "Hold" rating from 14 firms (8 hold, 6 buy) with an average 1-year price target of $64.27, and several brokers (TD Cowen, Deutsche Bank, Barclays, Jefferies, HSBC) have recently cut their targets.
• McCormick beat Q1 estimates with $0.66 EPS versus $0.61 expected and revenue of $1.87B (up 16.7% year-over-year), and analysts project about $3.09 EPS for the current fiscal year.
• Shares opened at $51.09 (52-week range $47.52–$78.16) with a market cap of $13.7B and a P/E of 8.38, and the company pays a quarterly dividend of $0.48 (annualized yield 3.8%).

Shares of McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) have received a consensus rating of "Hold" from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $64.2727.

Several equities research analysts have recently commented on the stock. TD Cowen reduced their target price on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a "buy" rating on the stock in a research note on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, March 30th. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Jefferies Financial Group reduced their target price on shares of McCormick & Company, Incorporated from $81.00 to $64.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. Finally, HSBC reduced their target price on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a "hold" rating on the stock in a research note on Thursday, March 26th.

McCormick & Company, Incorporated Trading Up 1.4%

Shares of MKC stock opened at $51.09 on Wednesday. McCormick & Company, Incorporated has a 52-week low of $47.52 and a 52-week high of $78.16. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of 8.38, a P/E/G ratio of 2.47 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The firm has a fifty day moving average of $57.39 and a 200-day moving average of $63.19.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter in the prior year, the company posted $0.60 EPS. The business's revenue was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated's payout ratio is currently 31.48%.

Insider Activity

In other news, Director Jacques Tapiero sold 5,000 shares of the business's stock in a transaction 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 sale, the director owned 31,596 shares in the company, valued at approximately $2,119,775.64. The trade was a 13.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gavin Hattersley purchased 2,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the transaction, the director owned 2,906 shares in the company, valued at $153,959.88. This represents a 220.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 65,000 shares of company stock worth $4,575,800 over the last 90 days. 10.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rafferty Asset Management LLC lifted its position in McCormick & Company, Incorporated by 0.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company's stock worth $1,443,000 after buying an additional 157 shares in the last quarter. Ransom Advisory Ltd lifted its position in McCormick & Company, Incorporated by 3.6% during the 4th quarter. Ransom Advisory Ltd now owns 4,625 shares of the company's stock worth $315,000 after buying an additional 160 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in McCormick & Company, Incorporated by 67.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company's stock worth $28,000 after buying an additional 164 shares in the last quarter. Glen Eagle Advisors LLC lifted its position in McCormick & Company, Incorporated by 42.5% during the 4th quarter. Glen Eagle Advisors LLC now owns 570 shares of the company's stock worth $39,000 after buying an additional 170 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in McCormick & Company, Incorporated by 10.5% during the 4th quarter. Van ECK Associates Corp now owns 1,795 shares of the company's stock worth $122,000 after buying an additional 171 shares in the last quarter. Institutional investors and hedge funds 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.

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