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

Key Points

• McCormick & Company, Incorporated has received an average recommendation of "Hold" from analysts, with a 12-month target price of $78.22.
• The company reported a Q3 EPS of $0.85, exceeding estimates, along with a revenue of $1.72 billion, marking a 2.7% year-over-year growth.
• MCC recently announced a quarterly dividend of $0.45 per share, resulting in an annualized yield of 2.7% for investors of record.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) has received an average recommendation of "Hold" from the eleven analysts that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $78.2222.

A number of analysts have recently commented on the company. Citigroup dropped their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. Weiss Ratings restated a "hold (c)" rating on shares of McCormick & Company, Incorporated in a report on Saturday, September 27th. UBS Group dropped their price objective on McCormick & Company, Incorporated from $71.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Finally, Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday.

McCormick & Company, Incorporated Trading Up 0.9%

Shares of MKC opened at $66.70 on Friday. The stock has a fifty day moving average of $68.53 and a two-hundred day moving average of $72.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.27 and a current ratio of 0.71. The company has a market capitalization 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 has a fifty-two week low of $63.66 and a fifty-two week high of $86.24.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, October 14th. McCormick & Company, Incorporated's dividend payout ratio is 62.28%.

Insiders Place Their Bets

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the completion of the sale, the insider directly owned 246,762 shares of the company's stock, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.80% of the company's stock.

Institutional Trading of McCormick & Company, Incorporated

A number of institutional investors have recently added to or reduced their stakes in the business. Viking Fund Management LLC purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter worth $10,036,000. Bartlett & CO. Wealth Management LLC boosted its position in McCormick & Company, Incorporated by 2.6% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 605,149 shares of the company's stock valued at $40,491,000 after buying an additional 15,444 shares during the last quarter. BDF Gestion purchased a new position in McCormick & Company, Incorporated in the 3rd quarter valued at about $2,219,000. U.S. Capital Wealth Advisors LLC boosted its position in McCormick & Company, Incorporated by 2.6% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 12,164 shares of the company's stock valued at $814,000 after buying an additional 311 shares during the last quarter. Finally, Addenda Capital Inc. purchased a new position in McCormick & Company, Incorporated in the 3rd quarter valued at about $3,145,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

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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