McCormick & Company, Incorporated (NYSE:MKC) Price Target Raised to $75.00 at Stifel Nicolaus

McCormick & Company, Incorporated (NYSE:MKC) had its price objective lifted by Stifel Nicolaus from $70.00 to $75.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts have also issued reports about the company. Consumer Edge lowered McCormick & Company, Incorporated from an overweight rating to an equal weight rating in a report on Monday, January 22nd. Barclays decreased their price target on McCormick & Company, Incorporated from $74.00 to $71.00 and set an equal weight rating for the company in a research note on Tuesday, January 16th. JPMorgan Chase & Co. decreased their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an underweight rating for the company in a research note on Friday, January 26th. Finally, Citigroup increased their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a sell rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $75.63.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $76.02 on Wednesday. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39. The firm has a market capitalization of $20.39 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 3.80 and a beta of 0.73. The business has a 50 day simple moving average of $67.73 and a 200 day simple moving average of $67.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.65 and a quick ratio of 0.28.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.55% and a net margin of 10.22%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the company posted $0.59 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.82 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio is presently 66.67%.

Insider Activity

In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the sale, the director now owns 39,181 shares in the company, valued at $2,554,601.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 22.90% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

A number of hedge funds have recently modified their holdings of the business. Union Savings Bank purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter worth $27,000. Legacy Financial Group LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $29,000. Anchor Investment Management LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $36,000. VisionPoint Advisory Group LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $44,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter worth $44,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

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.