Shares of McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) have been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $83.92.
Several research analysts have weighed in on the company. HSBC began coverage on McCormick & Company, Incorporated in a research report on Friday. They issued a “hold” rating and a $86.00 price objective on the stock. StockNews.com started coverage on shares of McCormick & Company, Incorporated in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Bank of America upgraded shares of McCormick & Company, Incorporated from an “underperform” rating to a “buy” rating and raised their price target for the stock from $75.00 to $100.00 in a research note on Tuesday, June 6th. TD Cowen assumed coverage on McCormick & Company, Incorporated in a research note on Wednesday, September 13th. They issued a “market perform” rating and a $87.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on McCormick & Company, Incorporated from $66.00 to $71.00 in a research report on Thursday, July 6th.
Read Our Latest Stock Report on McCormick & Company, Incorporated
McCormick & Company, Incorporated Trading Down 1.1 %
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last announced its earnings results on Thursday, June 29th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.76% and a net margin of 10.74%. McCormick & Company, Incorporated’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 earnings per share. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 2.66 EPS for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Monday, July 10th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Friday, July 7th. McCormick & Company, Incorporated’s payout ratio is presently 60.23%.
Insider Transactions at McCormick & Company, Incorporated
In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $89.88, for a total value of $449,400.00. Following the completion of the transaction, the director now directly owns 25,612 shares of the company’s stock, valued at approximately $2,302,006.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Jeffery D. Schwartz sold 2,600 shares of McCormick & Company, Incorporated stock in a transaction on Friday, July 28th. The shares were sold at an average price of $90.02, for a total transaction of $234,052.00. Following the completion of the sale, the vice president now directly owns 60,774 shares of the company’s stock, valued at approximately $5,470,875.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $89.88, for a total value of $449,400.00. Following the completion of the transaction, the director now owns 25,612 shares of the company’s stock, valued at $2,302,006.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,200 shares of company stock valued at $1,416,530. 19.00% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. American Century Companies Inc. grew its holdings in shares of McCormick & Company, Incorporated by 15.9% during the 1st quarter. American Century Companies Inc. now owns 5,072 shares of the company’s stock valued at $506,000 after purchasing an additional 696 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in McCormick & Company, Incorporated by 28.1% during the 1st quarter. Vontobel Holding Ltd. now owns 6,448 shares of the company’s stock valued at $627,000 after acquiring an additional 1,415 shares during the period. Sei Investments Co. boosted its holdings in McCormick & Company, Incorporated by 1.0% during the 1st quarter. Sei Investments Co. now owns 108,139 shares of the company’s stock valued at $10,803,000 after acquiring an additional 1,048 shares during the period. Prudential PLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter valued at about $543,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter valued at about $313,000. 78.15% of the stock is owned by hedge funds and other 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.
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