Barclays Has Lowered Expectations for McCormick & Company, Incorporated (NYSE:MKC) Stock Price

McCormick & Company, Incorporated (NYSE:MKC) had its price target cut by Barclays from $85.00 to $82.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, 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, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Up 0.4 %

McCormick & Company, Incorporated stock opened at $76.98 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49. The firm’s fifty day simple moving average is $76.74 and its 200-day simple moving average is $78.17. The company has a market capitalization of $20.66 billion, a P/E ratio of 26.19, a P/E/G ratio of 3.23 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. Sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.34%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s payout ratio is currently 61.22%.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 20,000 shares of company stock worth $1,565,850. 22.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $28,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth about $33,000. Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth about $38,000. Strategic Investment Solutions Inc. IL bought a new position in McCormick & Company, Incorporated during the second quarter worth about $39,000. Finally, Kennebec Savings Bank acquired a new stake in McCormick & Company, Incorporated during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.