McCormick & Company, Incorporated (NYSE:MKC) Upgraded at TheStreet

TheStreet upgraded shares of McCormick & Company, Incorporated (NYSE:MKC) from a c+ rating to a b rating in a report published on Tuesday, TheStreetRatingsTable reports.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of McCormick & Company, Incorporated from a sell rating to a hold rating and set a $87.00 target price on the stock in a report on Thursday, November 11th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McCormick & Company, Incorporated from $91.00 to $89.00 and set a hold rating on the stock in a report on Friday, October 1st. Finally, Credit Suisse Group dropped their target price on shares of McCormick & Company, Incorporated from $100.00 to $98.00 and set an outperform rating on the stock in a report on Friday, October 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $90.75.

MKC opened at $85.49 on Tuesday. The stock has a market capitalization of $22.85 billion, a PE ratio of 30.42, a P/E/G ratio of 4.39 and a beta of 0.47. The firm’s fifty day moving average price is $81.97 and its 200 day moving average price is $85.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.68 and a quick ratio of 0.30. McCormick & Company, Incorporated has a 12-month low of $77.85 and a 12-month high of $98.80.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Wednesday, September 29th. The company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.08. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.54 billion. McCormick & Company, Incorporated had a net margin of 12.34% and a return on equity of 19.23%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.01 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 26th. Stockholders of record on Tuesday, October 12th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, October 8th. This represents a $1.36 annualized dividend and a dividend yield of 1.59%. McCormick & Company, Incorporated’s dividend payout ratio is currently 48.40%.

In other news, Director Maritza Gomez Montiel sold 394 shares of the company’s stock in a transaction dated Thursday, October 28th. The shares were sold at an average price of $80.84, for a total transaction of $31,850.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in McCormick & Company, Incorporated by 1.3% in the 3rd quarter. BlackRock Inc. now owns 19,454,576 shares of the company’s stock valued at $1,576,404,000 after buying an additional 252,370 shares in the last quarter. Fundsmith LLP grew its position in McCormick & Company, Incorporated by 5.1% in the 3rd quarter. Fundsmith LLP now owns 18,713,629 shares of the company’s stock valued at $1,516,365,000 after buying an additional 908,972 shares in the last quarter. State Street Corp grew its position in McCormick & Company, Incorporated by 4.6% in the 2nd quarter. State Street Corp now owns 12,736,561 shares of the company’s stock valued at $1,124,893,000 after buying an additional 565,022 shares in the last quarter. Nordea Investment Management AB grew its position in McCormick & Company, Incorporated by 141.7% in the 3rd quarter. Nordea Investment Management AB now owns 5,928,070 shares of the company’s stock valued at $491,022,000 after buying an additional 3,475,139 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in McCormick & Company, Incorporated by 3.5% in the 3rd quarter. Franklin Resources Inc. now owns 4,675,235 shares of the company’s stock valued at $378,842,000 after buying an additional 156,876 shares in the last quarter. Hedge funds and other institutional investors own 73.78% of the company’s stock.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.

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