Brokerages Set McCormick & Company, Incorporated (NYSE:MKC) Target Price at $83.14

Shares of McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) have been given a consensus rating of "Hold" by the nine analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $83.14.

MKC has been the subject of a number of research analyst reports. Barclays cut their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the transaction, the director now owns 247,437 shares in the company, valued at approximately $20,242,820.97. This represents a 16.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the sale, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. This represents a 54.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,842 shares of company stock valued at $6,478,332. Company insiders own 23.80% of the company's stock.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds and other institutional investors have recently made changes to their positions in the business. Curio Wealth LLC acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $30,000. Salem Investment Counselors Inc. boosted its position in McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after purchasing an additional 336 shares during the last quarter. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Twin Tree Management LP acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $33,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

MKC stock traded down $0.54 during mid-day trading on Friday, reaching $74.78. 1,679,985 shares of the stock traded hands, compared to its average volume of 1,961,429. The firm has a market capitalization of $20.06 billion, a PE ratio of 25.52, a P/E/G ratio of 3.76 and a beta of 0.75. The business has a 50-day moving average of $79.29 and a two-hundred day moving average of $78.00. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the firm posted $0.63 EPS. The company's revenue was up .2% compared to the same quarter last year. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.41%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's payout ratio is presently 61.86%.

About McCormick & Company, Incorporated

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.