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

Key Points

• McCormick & Company has a consensus analyst rating of “Hold”, based on 14 covering firms: eight rate it Hold and six rate it Buy. The average 1-year price target is about $64.27.
• The company beat quarterly expectations, reporting EPS of $0.66 versus $0.61 expected and revenue of $1.87 billion versus $1.79 billion expected. Revenue rose 16.7% year over year.
• McCormick also announced a quarterly dividend of $0.48 per share, equal to a $1.92 annualized payout and a 4.0% yield. The dividend payout ratio is currently 31.48%.

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

MKC has been the subject of several research analyst reports. Barclays lowered their target price on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, March 30th. BTIG Research started coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They set a "neutral" rating on the stock. Zacks Research raised shares of McCormick & Company, Incorporated from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Finally, Sanford C. Bernstein reduced their price target on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 24th.

McCormick & Company, Incorporated Trading Up 1.8%

Shares of MKC stock opened at $47.82 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. The firm has a market cap of $12.85 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 2.34 and a beta of 0.68. The company has a 50-day moving average of $51.10 and a two-hundred day moving average of $61.14. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $78.16.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, April 20th. McCormick & Company, Incorporated's dividend payout ratio is currently 31.48%.

Insider Activity

In other McCormick & Company, Incorporated news, Director Gavin Hattersley purchased 2,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, April 10th. The shares were acquired at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the transaction, the director owned 2,906 shares of the company's stock, valued at $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.60% of the company's stock.

Institutional Trading of McCormick & Company, Incorporated

Several hedge funds have recently made changes to their positions in MKC. WINTON GROUP Ltd raised its holdings in McCormick & Company, Incorporated by 76.9% in the third quarter. WINTON GROUP Ltd now owns 37,500 shares of the company's stock valued at $2,509,000 after acquiring an additional 16,300 shares in the last quarter. Nuance Investments LLC acquired a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $15,388,000. Envestnet Asset Management Inc. raised its holdings in McCormick & Company, Incorporated by 3.5% in the third quarter. Envestnet Asset Management Inc. now owns 878,886 shares of the company's stock valued at $58,806,000 after acquiring an additional 29,418 shares in the last quarter. Cibc World Market Inc. acquired a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $3,819,000. Finally, Strengthening Families & Communities LLC raised its holdings in McCormick & Company, Incorporated by 3,178.6% in the third quarter. Strengthening Families & Communities LLC now owns 33,048 shares of the company's stock valued at $2,211,000 after acquiring an additional 32,040 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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