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

Shares of McCormick & Company, Incorporated (NYSE:MKC) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $81.50.

MKC has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of 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 note on Monday, December 9th. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $90.00 in a report on Wednesday. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.00, for a total transaction of $395,000.00. Following the sale, the director now owns 40,436 shares of the company’s stock, valued at $3,194,444. This trade represents a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 20,000 shares of company stock valued at $1,565,850. Company insiders own 22.90% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Several hedge funds have recently modified their holdings of MKC. Capital Performance Advisors LLP purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated in the second quarter worth $39,000. Kennebec Savings Bank acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth $40,000. Friedenthal Financial purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $49,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth $50,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Up 0.3 %

Shares of NYSE MKC opened at $74.54 on Thursday. The firm has a fifty day simple moving average of $77.55 and a two-hundred day simple moving average of $77.76. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $20.00 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.41%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 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.