McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) has earned a consensus recommendation of “Hold” from the ten analysts that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $80.83.
MKC has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of McCormick & Company, Incorporated in a research note on Thursday, October 5th. They set a “hold” rating on the stock. HSBC initiated coverage on shares of McCormick & Company, Incorporated in a research note on Friday, September 22nd. They set a “hold” rating and a $86.00 price objective on the stock. Stifel Nicolaus reduced their price target on shares of McCormick & Company, Incorporated from $82.00 to $70.00 and set a “hold” rating on the stock in a research report on Wednesday, October 4th. JPMorgan Chase & Co. raised their price target on shares of McCormick & Company, Incorporated from $66.00 to $71.00 in a research report on Thursday, July 6th. Finally, TD Cowen initiated coverage on shares of McCormick & Company, Incorporated in a research report on Wednesday, September 13th. They issued a “market perform” rating and a $87.00 price target on the stock.
Read Our Latest Stock Analysis on McCormick & Company, Incorporated
McCormick & Company, Incorporated Price Performance
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last posted its quarterly earnings data on Tuesday, October 3rd. The company reported $0.65 EPS for the quarter, meeting analysts’ consensus estimates of $0.65. McCormick & Company, Incorporated had a net margin of 9.80% and a return on equity of 14.15%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm posted $0.69 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts expect that McCormick & Company, Incorporated will post 2.65 EPS for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th will be given a $0.39 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.56 annualized dividend and a yield of 2.60%. McCormick & Company, Incorporated’s dividend payout ratio is presently 65.00%.
Insider Activity at McCormick & Company, Incorporated
In related news, VP Jeffery D. Schwartz sold 2,600 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $90.02, for a total value of $234,052.00. Following the sale, the vice president now directly owns 60,774 shares in the company, valued at approximately $5,470,875.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other McCormick & Company, Incorporated news, VP Jeffery D. Schwartz sold 2,600 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $90.02, for a total transaction of $234,052.00. Following the transaction, the vice president now owns 60,774 shares of the company’s stock, valued at approximately $5,470,875.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $83.63, for a total transaction of $418,150.00. Following the transaction, the director now directly owns 39,181 shares in the company, valued at approximately $3,276,707.03. The disclosure for this sale can be found here. Insiders have sold a total of 12,600 shares of company stock worth $1,101,602 in the last ninety days. 19.00% of the stock is owned by insiders.
Hedge Funds Weigh In On McCormick & Company, Incorporated
Several large investors have recently bought and sold shares of the stock. SVB Wealth LLC increased its stake in McCormick & Company, Incorporated by 3.0% during the 1st quarter. SVB Wealth LLC now owns 3,937 shares of the company’s stock valued at $393,000 after buying an additional 114 shares during the period. TrinityPoint Wealth LLC grew its stake in shares of McCormick & Company, Incorporated by 2.1% in the 2nd quarter. TrinityPoint Wealth LLC now owns 5,768 shares of the company’s stock worth $503,000 after purchasing an additional 117 shares during the last quarter. Connecticut Wealth Management LLC grew its stake in shares of McCormick & Company, Incorporated by 2.6% in the 1st quarter. Connecticut Wealth Management LLC now owns 4,680 shares of the company’s stock worth $389,000 after purchasing an additional 119 shares during the last quarter. CWM LLC grew its stake in shares of McCormick & Company, Incorporated by 2.9% in the 1st quarter. CWM LLC now owns 4,204 shares of the company’s stock worth $350,000 after purchasing an additional 119 shares during the last quarter. Finally, Stiles Financial Services Inc grew its stake in shares of McCormick & Company, Incorporated by 2.4% in the 1st quarter. Stiles Financial Services Inc now owns 5,140 shares of the company’s stock worth $428,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 78.15% of the company’s stock.
About McCormick & Company, Incorporated
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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