Analysts Set McCormick & Company, Incorporated (NYSE:MKC) Price Target at $78.00

McCormick & Company, Incorporated (NYSE:MKC) has received a consensus rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $76.25.

A number of equities analysts have issued reports on the company. Barclays increased their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. TD Cowen lowered their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th.

McCormick & Company, Incorporated Price Performance

MKC opened at $70.60 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $92.46. The company has a fifty day simple moving average of $72.29 and a 200 day simple moving average of $70.12. The stock has a market cap of $18.95 billion, a P/E ratio of 26.95, a P/E/G ratio of 3.58 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts expect that McCormick & Company, Incorporated will post 2.84 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.38%. McCormick & Company, Incorporated’s dividend payout ratio is 64.12%.

Insider Transactions at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total value of $5,900,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at approximately $14,695,277.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The disclosure for this sale can be found here. Insiders sold a total of 104,458 shares of company stock worth $7,747,114 in the last three months. Insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in McCormick & Company, Incorporated by 64.6% in the 3rd quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock valued at $8,216,000 after purchasing an additional 42,625 shares during the last quarter. Cullen Investment Group LTD. acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $5,728,000. International Assets Investment Management LLC lifted its position in McCormick & Company, Incorporated by 7,344.4% during the fourth quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock worth $7,946,000 after acquiring an additional 114,572 shares during the last quarter. abrdn plc lifted its position in McCormick & Company, Incorporated by 19.1% during the fourth quarter. abrdn plc now owns 443,332 shares of the company’s stock worth $30,333,000 after acquiring an additional 71,133 shares during the last quarter. Finally, Jacobs & Co. CA lifted its position in McCormick & Company, Incorporated by 12.7% during the fourth quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock worth $9,780,000 after acquiring an additional 16,098 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

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.