McCormick & Company, Incorporated (NYSE:MKC) Downgraded to Equal Weight at Consumer Edge

Consumer Edge downgraded shares of McCormick & Company, Incorporated (NYSE:MKCFree Report) from an overweight rating to an equal weight rating in a report released on Monday, MarketBeat.com reports.

Other equities research analysts have also recently issued research reports about the company. TheStreet cut McCormick & Company, Incorporated from a b- rating to a c+ rating in a report on Tuesday, October 3rd. StockNews.com initiated coverage on McCormick & Company, Incorporated in a research report on Thursday, October 5th. They set a hold rating on the stock. Stifel Nicolaus decreased their price target on McCormick & Company, Incorporated from $82.00 to $70.00 and set a hold rating on the stock in a research note on Wednesday, October 4th. Barclays reduced their price target on McCormick & Company, Incorporated from $74.00 to $71.00 and set an equal weight rating on the stock in a research note on Tuesday, January 16th. Finally, Bank of America dropped their price objective on McCormick & Company, Incorporated from $100.00 to $86.00 and set a buy rating for the company in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $77.90.

Get Our Latest Analysis on MKC

McCormick & Company, Incorporated Stock Up 4.3 %

Shares of MKC opened at $68.60 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39. The business’s 50 day moving average is $66.90 and its 200 day moving average is $73.02. The company has a market capitalization of $18.41 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 3.77 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last issued its earnings results on Thursday, January 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.06. McCormick & Company, Incorporated had a return on equity of 14.15% and a net margin of 9.80%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the business earned $0.73 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts expect that McCormick & Company, Incorporated will post 2.64 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 8th. Shareholders of record on Friday, December 29th were paid a dividend of $0.42 per share. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, December 28th. This represents a $1.68 dividend on an annualized basis and a yield of 2.45%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 70.00%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several hedge funds and other institutional investors have recently modified their holdings of MKC. Union Savings Bank acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at $27,000. Legacy Financial Group LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $29,000. Headlands Technologies LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $35,000. Anchor Investment Management LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $36,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $44,000. Institutional investors own 78.15% of the company’s stock.

About McCormick & Company, Incorporated

(Get Free Report)

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.

See Also

Analyst Recommendations for McCormick & Company, Incorporated (NYSE:MKC)

Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.