McCormick & Company, Incorporated (MKC) Price Target Raised to $114.00 at Citigroup

McCormick & Company, Incorporated (NYSE:MKC) had its target price lifted by Citigroup from $113.00 to $114.00 in a research report sent to investors on Wednesday morning. Citigroup currently has a neutral rating on the stock.

A number of other analysts have also weighed in on MKC. Zacks Investment Research lowered shares of McCormick & Company, Incorporated from a buy rating to a hold rating in a research report on Tuesday, November 28th. Credit Suisse Group set a $115.00 target price on shares of McCormick & Company, Incorporated and gave the company a buy rating in a research report on Tuesday, December 12th. Deutsche Bank lowered shares of McCormick & Company, Incorporated from a hold rating to a sell rating and cut their target price for the company from $103.00 to $98.00 in a research report on Friday, January 19th. Jefferies Group restated a buy rating and issued a $120.00 target price on shares of McCormick & Company, Incorporated in a research report on Thursday, January 25th. Finally, Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $103.00 to $110.00 and gave the company a hold rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $110.20.

How to Become a New Pot Stock Millionaire

Shares of McCormick & Company, Incorporated stock opened at $106.39 on Wednesday. McCormick & Company, Incorporated has a fifty-two week low of $90.25 and a fifty-two week high of $111.46. The company has a current ratio of 0.86, a quick ratio of 0.42 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $13,948.26, a price-to-earnings ratio of 23.75, a P/E/G ratio of 2.28 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 27th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. McCormick & Company, Incorporated had a net margin of 16.04% and a return on equity of 23.39%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business posted $0.76 earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. equities analysts anticipate that McCormick & Company, Incorporated will post 4.93 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 23rd. Stockholders of record on Monday, April 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, April 6th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.96%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 48.83%.

In other news, Director Patricia A. Little sold 6,250 shares of McCormick & Company, Incorporated stock in a transaction on Monday, January 29th. The shares were sold at an average price of $108.63, for a total transaction of $678,937.50. Following the transaction, the director now owns 15,497 shares in the company, valued at $1,683,439.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael R. Smith sold 2,575 shares of McCormick & Company, Incorporated stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $107.96, for a total transaction of $277,997.00. Following the transaction, the vice president now owns 17,312 shares in the company, valued at approximately $1,869,003.52. The disclosure for this sale can be found here. 19.20% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Captrust Financial Advisors acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth $108,000. Zions Bancorporation lifted its holdings in shares of McCormick & Company, Incorporated by 5,071.4% during the third quarter. Zions Bancorporation now owns 1,086 shares of the company’s stock worth $111,000 after purchasing an additional 1,065 shares during the period. Moneta Group Investment Advisors LLC acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth $200,000. GSA Capital Partners LLP acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth $200,000. Finally, Rockland Trust Co. acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth $200,000. Institutional investors own 79.74% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by WKRB News and is the sole property of of WKRB News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.wkrb13.com/2018/04/01/mccormick-company-incorporated-mkc-price-target-raised-to-114-00-at-citigroup.html.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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

Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply