McCormick & Company, Incorporated (NYSE:MKC) Given Average Rating of “Moderate Buy” by Analysts

McCormick & Company, Incorporated (NYSE:MKC) has received an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $82.63.

A number of equities analysts recently commented on the stock. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price objective on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd.

Insider Activity

In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $78.50, for a total value of $392,500.00. Following the completion of the sale, the director now owns 40,436 shares of the company’s stock, valued at approximately $3,174,226. This represents a 11.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $1,565,850. Company insiders own 22.90% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth $28,000. Rosenberg Matthew Hamilton bought a new position in McCormick & Company, Incorporated in the fourth quarter worth about $38,000. Strategic Investment Solutions Inc. IL bought a new position in McCormick & Company, Incorporated in the second quarter worth about $39,000. Kennebec Savings Bank bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $40,000. Finally, Friedenthal Financial bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.2 %

NYSE MKC opened at $71.73 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 52 week low of $63.88 and a 52 week high of $85.49. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 3.07 and a beta of 0.75. The company has a fifty day moving average of $77.05 and a two-hundred day moving average of $77.90.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.51%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.22%.

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.