McCormick & Company, Incorporated (NYSE:MKC) Receives Average Rating of "Hold" from Brokerages

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

MKC has been the topic of several recent research reports. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barclays cut their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $74.87 on Wednesday. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The business has a 50 day moving average price of $77.76 and a two-hundred day moving average price of $77.55. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm has a market cap of $20.08 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share 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 business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business earned $0.63 EPS. McCormick & Company, Incorporated's revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Insider Activity

In related news, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated 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 completion of the transaction, the director now owns 6,177 shares in the company, valued at $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 ninety days, insiders have sold 88,484 shares of company stock worth $7,062,028. 23.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of hedge funds have recently modified their holdings of the stock. Zions Bancorporation National Association UT acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter worth $28,000. Wayfinding Financial LLC acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter worth $30,000. Salem Investment Counselors Inc. boosted its position in shares of McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after buying an additional 336 shares during the period. Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $30,000. Finally, Stonebridge Financial Group LLC boosted its position in shares of McCormick & Company, Incorporated by 101.0% in the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after buying an additional 202 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

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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