McCormick & Co. (NYSE:MKC) had its price objective dropped by analysts at Jefferies Group from $95.00 to $90.00 in a research report issued on Wednesday. The brokerage presently has a “hold” rating on the stock. Jefferies Group’s price objective indicates a potential downside of 1.32% from the stock’s current price.

A number of other analysts have also recently commented on the company. Sanford C. Bernstein cut McCormick & Co. from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $113.00 to $104.00 in a research report on Friday, September 16th. They noted that the move was a valuation call. Deutsche Bank AG cut their price objective on McCormick & Co. from $113.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, September 23rd. Zacks Investment Research upgraded McCormick & Co. from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research report on Thursday, August 18th. Finally, Credit Suisse Group AG upgraded McCormick & Co. from a “neutral” rating to an “outperform” rating and set a $111.00 price target for the company in a research report on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $99.49.

Analyst Recommendations for McCormick & Co. (NYSE:MKC)

Shares of McCormick & Co. (NYSE:MKC) traded down 2.07% during mid-day trading on Wednesday, reaching $91.20. The company had a trading volume of 934,477 shares. The stock’s 50-day moving average price is $93.54 and its 200 day moving average price is $98.54. McCormick & Co. has a 1-year low of $78.45 and a 1-year high of $107.84. The company has a market capitalization of $11.50 billion, a PE ratio of 25.18 and a beta of 0.50.

McCormick & Co. (NYSE:MKC) last posted its quarterly earnings data on Friday, September 30th. The company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.09. The business earned $1.09 billion during the quarter. McCormick & Co. had a return on equity of 27.26% and a net margin of 10.58%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. Equities analysts expect that McCormick & Co. will post $3.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.06%. This is a positive change from McCormick & Co.’s previous quarterly dividend of $0.43. McCormick & Co.’s payout ratio is 47.51%.

COPYRIGHT VIOLATION NOTICE: This news story was originally published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are viewing this news story on another website, it was stolen and reposted in violation of United States and international copyright legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2016/11/30/mccormick-co-mkc-earns-hold-rating-from-jefferies-group.html.

In other McCormick & Co. news, Director Freeman A. Hrabowski III sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $94.15, for a total transaction of $188,300.00. Following the transaction, the director now owns 38,442 shares of the company’s stock, valued at $3,619,314.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in McCormick & Co. by 29.3% in the second quarter. Van ECK Associates Corp now owns 1,045 shares of the company’s stock worth $111,000 after buying an additional 237 shares during the period. FineMark National Bank & Trust raised its position in shares of McCormick & Co. by 3,142.9% in the third quarter. FineMark National Bank & Trust now owns 1,135 shares of the company’s stock valued at $113,000 after buying an additional 1,100 shares during the period. Coconut Grove Bank raised its position in shares of McCormick & Co. by 5.7% in the third quarter. Coconut Grove Bank now owns 1,210 shares of the company’s stock valued at $121,000 after buying an additional 65 shares during the period. Washington Trust Bank raised its position in shares of McCormick & Co. by 986.4% in the third quarter. Washington Trust Bank now owns 1,358 shares of the company’s stock valued at $136,000 after buying an additional 1,233 shares during the period. Finally, Mizuho Asset Management Co. Ltd. raised its position in shares of McCormick & Co. by 90.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,331 shares of the company’s stock valued at $142,000 after buying an additional 632 shares during the period. 72.26% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NYSE:MKC

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.