McCormick & Company, Incorporated (NYSE:MKC) Given Consensus Recommendation of “Hold” by Analysts

Shares of McCormick & Company, Incorporated (NYSE:MKC) have received an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $64.2727.

MKC has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. BTIG Research initiated coverage on McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They set a “neutral” rating on the stock. Sanford C. Bernstein dropped their price objective on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. HSBC dropped their price objective on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Finally, Jefferies Financial Group dropped their price objective on McCormick & Company, Incorporated from $81.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $47.46 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The stock’s fifty day simple moving average is $50.12 and its two-hundred day simple moving average is $60.54. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $78.16. The stock has a market cap of $12.75 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 2.32 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the business earned $0.60 EPS. The business’s revenue was up 16.7% on a year-over-year basis. As a group, analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 31.48%.

Insiders Place Their Bets

In other news, Director Gavin Hattersley acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was bought at an average price of $52.98 per share, with a total value of $105,960.00. Following the acquisition, the director owned 2,906 shares in the company, valued at $153,959.88. The trade was a 220.75% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 10.60% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several large investors have recently added to or reduced their stakes in MKC. GoalVest Advisory LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $28,000. Deseret Mutual Benefit Administrators grew its holdings in McCormick & Company, Incorporated by 67.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after buying an additional 164 shares in the last quarter. Motiv8 Investments LLC purchased a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $28,000. Zions Bancorporation National Association UT grew its holdings in McCormick & Company, Incorporated by 340.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after buying an additional 357 shares in the last quarter. Finally, SouthState Bank Corp grew its holdings in McCormick & Company, Incorporated by 1,777.8% during the 3rd quarter. SouthState Bank Corp now owns 507 shares of the company’s stock valued at $34,000 after buying an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.