McCormick & Company, Incorporated (NYSE:MKC) Price Target Increased to $86.00 by Analysts at TD Cowen

McCormick & Company, Incorporated (NYSE:MKC) had its price objective raised by TD Cowen from $84.00 to $86.00 in a research note published on Wednesday morning, Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other research firms also recently weighed in on MKC. Citigroup upgraded shares of McCormick & Company, Incorporated from a sell rating to a neutral rating and boosted their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. 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 note on Wednesday. Finally, Bank of America boosted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a buy rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $79.57.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $80.61 on Wednesday. The firm has a market cap of $21.65 billion, a price-to-earnings ratio of 29.42, a P/E/G ratio of 4.24 and a beta of 0.77. The firm has a fifty day moving average price of $80.43 and a 200 day moving average price of $75.37. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $85.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.08%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 22.90% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Advisors Ltd. LLC raised its holdings in shares of McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. OFI Invest Asset Management bought a new position in McCormick & Company, Incorporated in the second quarter worth approximately $29,000. 1620 Investment Advisors Inc. purchased a new stake in McCormick & Company, Incorporated during the second quarter worth $35,000. Strategic Investment Solutions Inc. IL bought a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at $39,000. Finally, Farmers & Merchants Investments Inc. increased its holdings in shares of McCormick & Company, Incorporated by 40.3% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after acquiring an additional 228 shares during the period. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Company Profile

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.