McCormick & Company, Incorporated (NYSE:MKC) Receives $81.67 Consensus Price Target from Analysts

Shares of McCormick & Company, Incorporated (NYSE:MKC) have been given an average rating of “Hold” by the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $81.67.

Several equities analysts have recently commented on the company. Jefferies Financial Group reaffirmed a “hold” rating on shares of McCormick & Company, Incorporated in a research note on Thursday, October 1st. Argus assumed coverage on McCormick & Company, Incorporated in a report on Thursday, September 24th. They issued a “buy” rating and a $107.50 price objective on the stock. Finally, BidaskClub upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Friday.

NYSE MKC opened at $95.60 on Wednesday. The stock’s fifty day moving average is $94.87 and its two-hundred day moving average is $95.59. The firm has a market capitalization of $25.51 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 5.78 and a beta of 0.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.42 and a current ratio of 0.90. McCormick & Company, Incorporated has a fifty-two week low of $56.11 and a fifty-two week high of $105.54.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Monday, October 5th. The company reported $0.76 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.76. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.39 billion. McCormick & Company, Incorporated had a return on equity of 20.93% and a net margin of 13.75%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 earnings per share. As a group, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Stockholders of record on Thursday, December 31st will be issued a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, December 30th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.62. McCormick & Company, Incorporated’s dividend payout ratio is presently 46.44%.

In related news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $183.30, for a total value of $916,500.00. Following the completion of the sale, the director now directly owns 22,765 shares of the company’s stock, valued at approximately $4,172,824.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MKC. WealthPLAN Partners LLC raised its stake in shares of McCormick & Company, Incorporated by 6.8% during the 3rd quarter. WealthPLAN Partners LLC now owns 1,828 shares of the company’s stock worth $338,000 after buying an additional 116 shares in the last quarter. Pantheon Investment Group LLC raised its stake in shares of McCormick & Company, Incorporated by 15.8% during the 3rd quarter. Pantheon Investment Group LLC now owns 3,158 shares of the company’s stock worth $613,000 after buying an additional 431 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of McCormick & Company, Incorporated by 107.6% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 4,173 shares of the company’s stock worth $405,000 after buying an additional 2,163 shares in the last quarter. Brinker Capital Investments LLC purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $485,000. Finally, Townsquare Capital LLC raised its stake in shares of McCormick & Company, Incorporated by 18.2% during the 3rd quarter. Townsquare Capital LLC now owns 24,221 shares of the company’s stock worth $4,641,000 after buying an additional 3,733 shares in the last quarter. 71.42% of the stock is owned by hedge funds and other institutional investors.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

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Analyst Recommendations for McCormick & Company, Incorporated (NYSE:MKC)

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