McCormick & Company, Incorporated (NYSE:MKC) PT Raised to $75.00

McCormick & Company, Incorporated (NYSE:MKC) had its target price upped by Stifel Nicolaus from $70.00 to $75.00 in a research report report published on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms also recently commented on MKC. Consumer Edge downgraded shares of McCormick & Company, Incorporated from an overweight rating to an equal weight rating in a report on Monday, January 22nd. JPMorgan Chase & Co. cut their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an underweight rating on the stock in a report on Friday, January 26th. Citigroup boosted their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a sell rating in a report on Wednesday. Finally, Barclays cut their price target on shares of McCormick & Company, Incorporated from $74.00 to $71.00 and set an equal weight rating on the stock in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of Hold and a consensus target price of $76.43.

McCormick & Company, Incorporated Trading Up 1.0 %

McCormick & Company, Incorporated stock opened at $76.81 on Wednesday. The firm has a 50-day moving average price of $68.19 and a two-hundred day moving average price of $67.86. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 4.11 and a beta of 0.73. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39. The company has a quick ratio of 0.28, a current ratio of 0.68 and a debt-to-equity ratio of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 EPS. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.83 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.19%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the transaction, the director now owns 5,594 shares in the company, valued at approximately $430,738. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the sale, the director now directly owns 5,594 shares of the company’s stock, valued at $430,738. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the sale, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The disclosure for this sale can be found here. Company insiders own 22.90% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Several large investors have recently added to or reduced their stakes in the business. SVB Wealth LLC boosted its holdings in shares of McCormick & Company, Incorporated by 3.0% during the 1st quarter. SVB Wealth LLC now owns 3,937 shares of the company’s stock worth $393,000 after buying an additional 114 shares during the period. Wellington Management Group LLP boosted its holdings in shares of McCormick & Company, Incorporated by 0.3% during the 1st quarter. Wellington Management Group LLP now owns 53,866 shares of the company’s stock worth $4,482,000 after buying an additional 148 shares during the period. Asset Dedication LLC boosted its holdings in shares of McCormick & Company, Incorporated by 7.5% during the 2nd quarter. Asset Dedication LLC now owns 2,150 shares of the company’s stock worth $187,000 after buying an additional 150 shares during the period. Kinneret Advisory LLC boosted its holdings in shares of McCormick & Company, Incorporated by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 6,880 shares of the company’s stock worth $687,000 after buying an additional 154 shares during the period. Finally, KFG Wealth Management LLC boosted its holdings in shares of McCormick & Company, Incorporated by 3.1% during the 4th quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock worth $358,000 after buying an additional 158 shares during the period. 79.74% of the stock is owned by institutional investors.

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.