Stifel Nicolaus Cuts McCormick & Company, Incorporated (NYSE:MKC) Price Target to $71.00

McCormick & Company, Incorporated (NYSE:MKC) had its price target cut by Stifel Nicolaus from $76.00 to $71.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

MKC has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Jefferies Financial Group decreased their price objective on McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Monday, September 22nd. Citigroup decreased their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 17th. Sanford C. Bernstein reduced their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Wall Street Zen downgraded McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $78.22.

McCormick & Company, Incorporated Trading Up 0.9%

Shares of MKC stock opened at $66.70 on Wednesday. McCormick & Company, Incorporated has a 1 year low of $63.66 and a 1 year high of $86.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.27. The stock’s 50 day simple moving average is $68.53 and its two-hundred day simple moving average is $72.45. The company has a market cap of $17.90 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 3.83 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business posted $0.83 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.28%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the transaction, the insider directly owned 246,762 shares in the company, valued at $16,251,745.32. This trade represents a 16.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 23.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MKC. Pallas Capital Advisors LLC purchased a new position in McCormick & Company, Incorporated during the 1st quarter worth $434,000. Yousif Capital Management LLC increased its holdings in McCormick & Company, Incorporated by 3.2% during the 1st quarter. Yousif Capital Management LLC now owns 120,791 shares of the company’s stock worth $9,942,000 after purchasing an additional 3,783 shares during the period. SG Americas Securities LLC increased its holdings in McCormick & Company, Incorporated by 204.2% during the 1st quarter. SG Americas Securities LLC now owns 27,592 shares of the company’s stock worth $2,271,000 after purchasing an additional 18,521 shares during the period. CX Institutional purchased a new position in McCormick & Company, Incorporated during the 1st quarter worth $275,000. Finally, USA Financial Formulas increased its holdings in McCormick & Company, Incorporated by 42.6% during the 1st quarter. USA Financial Formulas now owns 2,718 shares of the company’s stock worth $224,000 after purchasing an additional 812 shares during the period. 79.74% of the stock is currently 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.