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

McCormick & Company, Incorporated (NYSE:MKC) has been assigned a consensus recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $79.57.

MKC has been the topic of several research reports. Bank of America lifted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. TD Cowen lifted their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd.

McCormick & Company, Incorporated Trading Up 0.7 %

MKC stock opened at $78.75 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. The business has a 50 day simple moving average of $81.11 and a two-hundred day simple moving average of $76.06. The company has a market capitalization of $21.13 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 3.56 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company posted $0.65 earnings per share. Research analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were given a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.13%. McCormick & Company, Incorporated’s dividend payout ratio is presently 57.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in McCormick & Company, Incorporated by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after acquiring an additional 883,327 shares during the period. Champlain Investment Partners LLC lifted its holdings in McCormick & Company, Incorporated by 4.4% during the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock valued at $246,646,000 after buying an additional 136,080 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of McCormick & Company, Incorporated by 2.4% in the first quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock valued at $201,442,000 after purchasing an additional 60,512 shares during the period. Nuance Investments LLC grew its stake in McCormick & Company, Incorporated by 10.5% in the second quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after purchasing an additional 99,741 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in McCormick & Company, Incorporated by 97,525.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Company Profile

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