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

Shares of McCormick & Company, Incorporated (NYSE:MKC) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $82.63.

MKC has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a report on Wednesday. TD Cowen raised shares of 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 research report on Wednesday, January 8th. Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Bank of America lifted their price objective 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. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th.

McCormick & Company, Incorporated Trading Down 0.2 %

Shares of NYSE:MKC opened at $71.73 on Thursday. The business’s 50-day moving average is $77.05 and its 200 day moving average is $77.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1 year low of $63.88 and a 1 year high of $85.49. The firm has a market capitalization of $19.25 billion, a P/E ratio of 24.40, a P/E/G ratio of 3.07 and a beta of 0.75.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.51%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.22%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the sale, the director now directly owns 28,217 shares of the company’s stock, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 20,000 shares of company stock worth $1,565,850. Insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $28,000. Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated during the fourth quarter worth $38,000. Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated during the second quarter valued at $39,000. Kennebec Savings Bank acquired a new stake in McCormick & Company, Incorporated during the third quarter valued at $40,000. Finally, Friedenthal Financial purchased a new position in McCormick & Company, Incorporated in the third quarter valued at $49,000. 79.74% of the stock is owned by institutional investors and hedge funds.

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.