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

Shares of McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) have earned a consensus rating of "Hold" from the eleven research firms that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $78.2222.

A number of research firms have weighed in on MKC. Jefferies Financial Group cut their price objective on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a "buy" rating for the company in a report on Wednesday. Citigroup cut their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday. Barclays cut their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, UBS Group cut their price objective on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday.

McCormick & Company, Incorporated Trading Up 0.9%

Shares of McCormick & Company, Incorporated stock opened at $66.70 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.27. The firm has a fifty day moving average price of $68.53 and a 200 day moving average price of $72.45. McCormick & Company, Incorporated has a 1 year low of $63.66 and a 1 year high of $86.24. The stock has a market cap of $17.90 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 3.83 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter last year, the company posted $0.83 earnings per share. The firm's revenue was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be given a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.28%.

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total value of $3,293,000.00. Following the sale, the insider owned 246,762 shares in the company, valued at $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.80% of the stock is currently owned by company insiders.

Institutional Trading of McCormick & Company, Incorporated

Several institutional investors have recently modified their holdings of the stock. Viking Fund Management LLC acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $10,036,000. Bartlett & CO. Wealth Management LLC grew its position in shares of McCormick & Company, Incorporated by 2.6% in the third quarter. Bartlett & CO. Wealth Management LLC now owns 605,149 shares of the company's stock valued at $40,491,000 after purchasing an additional 15,444 shares during the period. BDF Gestion acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $2,219,000. U.S. Capital Wealth Advisors LLC boosted its position in McCormick & Company, Incorporated by 2.6% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 12,164 shares of the company's stock worth $814,000 after acquiring an additional 311 shares during the last quarter. Finally, Addenda Capital Inc. acquired a new position in McCormick & Company, Incorporated during the third quarter worth about $3,145,000. Institutional investors and hedge funds own 79.74% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.