McCormick & Company, Incorporated (NYSE:MKC) Receives $83.75 Consensus Target Price from Brokerages

Shares of McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) have received a consensus rating of "Moderate Buy" from the nine analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $83.75.

Several brokerages have issued reports on MKC. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. increased their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research report on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Barclays lowered their price target on shares of 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.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock traded up $0.52 on Monday, reaching $77.32. The stock had a trading volume of 1,148,634 shares, compared to its average volume of 2,051,618. McCormick & Company, Incorporated has a 12 month low of $64.33 and a 12 month high of $85.49. The firm has a market capitalization of $20.73 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 3.67 and a beta of 0.75. The firm's 50-day moving average is $76.70 and its two-hundred day moving average is $78.29. 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 released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a $0.45 dividend. The ex-dividend date was Monday, December 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.33%. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. McCormick & Company, Incorporated's payout ratio is currently 61.43%.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 22.90% of the company's stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Large investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $28,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $33,000. Kennebec Savings Bank bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth about $40,000. Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $38,000. Finally, Friedenthal Financial bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at approximately $49,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

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.