TD Cowen Raises McCormick & Company, Incorporated (NYSE:MKC) Price Target to $86.00

McCormick & Company, Incorporated (NYSE:MKC) had its price target lifted by TD Cowen from $84.00 to $86.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a hold rating on the stock.

MKC has been the topic of several other research reports. Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a hold rating in a report on Wednesday. Citigroup raised shares of McCormick & Company, Incorporated from a sell rating to a neutral rating and upped their price objective for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Finally, Bank of America upped their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a buy rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $79.57.

McCormick & Company, Incorporated Stock Down 0.3 %

Shares of NYSE MKC opened at $80.61 on Wednesday. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $85.49. The company has a market capitalization of $21.65 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The firm’s 50-day moving average is $80.43 and its two-hundred day moving average is $75.33.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be issued a $0.42 dividend. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.08%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares in the company, valued at approximately $14,944,350. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System lifted its holdings in shares of McCormick & Company, Incorporated by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after buying an additional 7,898 shares during the period. Ossiam lifted its holdings in shares of McCormick & Company, Incorporated by 89.5% in the fourth quarter. Ossiam now owns 41,928 shares of the company’s stock valued at $2,869,000 after buying an additional 19,807 shares during the period. Cetera Investment Advisers lifted its holdings in shares of McCormick & Company, Incorporated by 470.6% in the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after buying an additional 31,306 shares during the period. SG Americas Securities LLC lifted its holdings in shares of McCormick & Company, Incorporated by 333.8% in the first quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock valued at $5,452,000 after buying an additional 54,616 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of McCormick & Company, Incorporated by 11.8% in the first quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after buying an additional 16,420 shares during the period. Institutional investors and hedge funds 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.