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

McCormick & Company, Incorporated (NYSE:MKC) has been given an average recommendation of “Hold” by the thirteen research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $61.90.

A number of equities research analysts recently weighed in on MKC shares. BTIG Research began coverage on shares of McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They set a “neutral” rating for the company. Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. UBS Group dropped their price objective on McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Sanford C. Bernstein cut their target price on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, June 12th.

McCormick & Company, Incorporated Stock Down 1.7%

NYSE MKC opened at $46.41 on Thursday. The stock has a market capitalization of $12.47 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65. McCormick & Company, Incorporated has a 52 week low of $44.82 and a 52 week high of $78.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The stock has a fifty day moving average of $49.09 and a 200-day moving average of $58.79.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 4.1%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 31.48%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of McCormick & Company, Incorporated stock in a transaction on Friday, April 10th. The shares were purchased at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the acquisition, the director owned 2,906 shares in the company, valued at approximately $153,959.88. The trade was a 220.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several institutional investors have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators raised its stake in shares of McCormick & Company, Incorporated by 67.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after purchasing an additional 164 shares during the period. Motiv8 Investments LLC bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $28,000. GoalVest Advisory LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth $28,000. Zions Bancorporation National Association UT grew its position in shares of McCormick & Company, Incorporated by 340.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after acquiring an additional 357 shares during the period. Finally, Union Savings Bank acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $36,000. 79.74% of the stock is owned by institutional investors.

About McCormick & Company, Incorporated

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.