McCormick & Co. (NYSE:MKC) had its price target reduced by Jefferies Group from $100.00 to $95.00 in a research report report published on Wednesday. They currently have a hold rating on the stock.
MKC has been the topic of several other reports. Citigroup Inc. raised shares of McCormick & Co. from a sell rating to a neutral rating and raised their target price for the stock from $85.00 to $102.00 in a report on Thursday, June 23rd. Zacks Investment Research cut shares of McCormick & Co. from a buy rating to a hold rating in a report on Wednesday, September 14th. Sanford C. Bernstein cut shares of McCormick & Co. from an outperform rating to a market perform rating and lowered their target price for the stock from $113.00 to $104.00 in a report on Friday, September 16th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reaffirmed a buy rating and set a $113.00 target price (up from $110.00) on shares of McCormick & Co. in a report on Sunday, June 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. McCormick & Co. currently has an average rating of Hold and a consensus price target of $98.99.
McCormick & Co. (NYSE:MKC) remained flat at $94.41 on Wednesday. 160,294 shares of the company traded hands. The stock has a 50-day moving average of $98.11 and a 200-day moving average of $99.24. McCormick & Co. has a 12 month low of $78.45 and a 12 month high of $107.84. The stock has a market cap of $11.90 billion, a P/E ratio of 26.07 and a beta of 0.47.
McCormick & Co. (NYSE:MKC) last released its quarterly earnings results on Friday, September 30th. The company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.09. The firm had revenue of $1.09 billion for the quarter. McCormick & Co. had a net margin of 10.58% and a return on equity of 27.26%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. Equities analysts forecast that McCormick & Co. will post $3.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Tuesday, October 11th will be given a $0.43 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $1.72 dividend on an annualized basis and a yield of 1.82%. McCormick & Co.’s dividend payout ratio is currently 47.51%.
A number of hedge funds have recently modified their holdings of the stock. Gulf International Bank UK Ltd raised its stake in shares of McCormick & Co. by 3.0% in the third quarter. Gulf International Bank UK Ltd now owns 34,457 shares of the company’s stock worth $3,442,000 after buying an additional 1,000 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of McCormick & Co. by 12.1% in the third quarter. Capstone Asset Management Co. now owns 31,405 shares of the company’s stock worth $3,138,000 after buying an additional 3,380 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of McCormick & Co. during the third quarter worth $510,000. Creative Planning raised its stake in shares of McCormick & Co. by 8.2% in the third quarter. Creative Planning now owns 18,054 shares of the company’s stock worth $1,804,000 after buying an additional 1,370 shares in the last quarter. Finally, Reilly Herbert Faulkner III raised its stake in shares of McCormick & Co. by 2.2% in the third quarter. Reilly Herbert Faulkner III now owns 47,140 shares of the company’s stock worth $4,710,000 after buying an additional 1,012 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.
McCormick & Co. Company Profile