McCormick & Company, Incorporated (NYSE:MKC – Free Report) had its target price boosted by Stifel Nicolaus from $75.00 to $85.00 in a research report report published on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.
MKC has been the topic of several other reports. TD Cowen lowered their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a hold rating on the stock in a report on Monday, June 24th. Citigroup upgraded McCormick & Company, Incorporated from a sell rating to a neutral rating and lifted their price objective for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Finally, Bank of America lifted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a buy rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $79.57.
Get Our Latest Stock Report on McCormick & Company, Incorporated
McCormick & Company, Incorporated Price Performance
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last posted its 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 firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm earned $0.65 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.
McCormick & Company, Incorporated Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.
Insiders Place Their Bets
In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 22.90% of the company’s stock.
Institutional Trading of McCormick & Company, Incorporated
Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in McCormick & Company, Incorporated by 23.9% in the 3rd quarter. SG Americas Securities LLC now owns 55,598 shares of the company’s stock valued at $4,576,000 after purchasing an additional 10,734 shares during the last quarter. Czech National Bank increased its holdings in McCormick & Company, Incorporated by 7.0% in the 3rd quarter. Czech National Bank now owns 51,338 shares of the company’s stock valued at $4,225,000 after purchasing an additional 3,366 shares during the last quarter. Heritage Wealth Management Inc. acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at approximately $227,000. Sanctuary Advisors LLC acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at approximately $5,298,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.
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.
See Also
- Five stocks we like better than McCormick & Company, Incorporated
- How to Invest in Small Cap Stocks
- 3 Small-Cap Stocks on the Way to Bigger and Better Days
- Stock Market Sectors: What Are They and How Many Are There?
- MarketBeat Week in Review – 9/30 – 10/4
- Earnings Per Share Calculator: How to Calculate EPS
- Top Streaming Companies: Who’s Winning the Battle?
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.