McCormick & Company, Incorporated (NYSE:MKC) Given Consensus Rating of “Moderate Buy” by Brokerages

McCormick & Company, Incorporated (NYSE:MKC) has been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $83.75.

MKC has been the topic of a number of recent analyst reports. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $77.24 on Monday. The firm has a 50 day moving average of $76.72 and a 200 day moving average of $78.23. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $20.73 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 3.66 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $64.33 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.33%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s payout ratio is currently 61.43%.

Insider Activity

In related news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the sale, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 22.90% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Several large investors have recently made changes to their positions in MKC. Wallington Asset Management LLC lifted its position in McCormick & Company, Incorporated by 3.4% during the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after purchasing an additional 136 shares during the period. International Private Wealth Advisors LLC raised its stake in shares of McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after buying an additional 136 shares during the last quarter. Empower Advisory Group LLC raised its stake in shares of McCormick & Company, Incorporated by 1.7% during the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after buying an additional 138 shares during the last quarter. Hunter Associates Investment Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 1.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after buying an additional 153 shares during the period. Finally, Kingsview Wealth Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 4.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company’s stock worth $320,000 after buying an additional 170 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.