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

Shares of McCormick & Company, Incorporated (NYSE:MKC) have received an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $83.75.

A number of research firms recently weighed in on MKC. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays cut their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th.

McCormick & Company, Incorporated Stock Up 1.4 %

NYSE:MKC opened at $78.43 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average of $76.70 and a 200-day moving average of $78.35. The firm has a market capitalization of $21.03 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $64.33 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.30%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is 61.43%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at $20,227,000. Hemenway Trust Co LLC raised its position in McCormick & Company, Incorporated by 71.5% in the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after acquiring an additional 58,511 shares in the last quarter. Wellington Management Group LLP lifted its holdings in McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock valued at $11,500,000 after acquiring an additional 24,881 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of McCormick & Company, Incorporated by 57.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after purchasing an additional 14,652 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $1,104,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Company Profile

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.