McCormick & Co. (MKC) Given New $95.00 Price Target at Jefferies Group
McCormick & Co. (NYSE:MKC) had its target price cut by equities research analysts at Jefferies Group from $100.00 to $95.00 in a research note issued on Wednesday. The brokerage currently has a “hold” rating on the stock. Jefferies Group’s price target would suggest a potential upside of 0.89% from the stock’s current price.
Several other analysts also recently weighed in on the stock. Sanford C. Bernstein downgraded shares of McCormick & Co. from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $113.00 to $104.00 in a report on Friday, September 16th. They noted that the move was a valuation call. Citigroup Inc. raised shares of McCormick & Co. from a “sell” rating to a “neutral” rating and lifted their target price for the company from $85.00 to $102.00 in a report on Thursday, June 23rd. Deutsche Bank AG lowered their target price on shares of McCormick & Co. from $113.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, September 23rd. Finally, Zacks Investment Research raised shares of McCormick & Co. from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. McCormick & Co. presently has an average rating of “Hold” and a consensus target price of $98.99.
Shares of McCormick & Co. (NYSE:MKC) traded down 0.03% during trading on Wednesday, reaching $94.13. The company had a trading volume of 84,052 shares. The stock has a market capitalization of $11.87 billion, a price-to-earnings ratio of 25.99 and a beta of 0.47. The company’s 50 day moving average is $98.34 and its 200-day moving average is $99.27. McCormick & Co. has a 1-year low of $78.45 and a 1-year high of $107.84.
McCormick & Co. (NYSE:MKC) last issued its earnings results on Friday, September 30th. The company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.09. The business had revenue of $1.09 billion for the quarter. McCormick & Co. had a net margin of 10.58% and a return on equity of 27.26%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. On average, equities research analysts anticipate that McCormick & Co. will post $3.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Tuesday, October 11th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, October 6th. McCormick & Co.’s payout ratio is currently 47.51%.
A number of institutional investors have recently made changes to their positions in the company. Teachers Advisors Inc. boosted its position in shares of McCormick & Co. by 7.5% in the first quarter. Teachers Advisors Inc. now owns 129,673 shares of the company’s stock worth $12,900,000 after buying an additional 9,051 shares during the last quarter. BlackRock Japan Co. Ltd boosted its position in shares of McCormick & Co. by 30.3% in the first quarter. BlackRock Japan Co. Ltd now owns 196,278 shares of the company’s stock worth $19,526,000 after buying an additional 45,647 shares during the last quarter. Advisor Partners LLC acquired a new position in shares of McCormick & Co. during the first quarter worth about $242,000. ING Groep NV acquired a new position in shares of McCormick & Co. during the first quarter worth about $263,000. Finally, Aviva PLC boosted its position in shares of McCormick & Co. by 1.3% in the first quarter. Aviva PLC now owns 58,920 shares of the company’s stock worth $5,861,000 after buying an additional 745 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.
About McCormick & Co.
McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company operates in two segments: consumer and industrial. Its brands in the Americas include McCormick, Lawry’s, Stubb’s, Club House, Zatarain’s, Thai Kitchen and Simply Asia.
Receive News & Stock Ratings for McCormick & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Co. and related stocks with our FREE daily email newsletter.