MCCORMICK & CO /SH NV (NYSE:MKC) Receives Average Rating of “Hold” from Analysts

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MCCORMICK & CO /SH NV (NYSE:MKC) has received an average rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $154.86.

A number of equities research analysts have recently weighed in on MKC shares. Citigroup lifted their price objective on MCCORMICK & CO /SH from $155.00 to $166.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Credit Suisse Group lifted their price objective on MCCORMICK & CO /SH from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. ValuEngine lowered MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group set a $155.00 price objective on MCCORMICK & CO /SH and gave the stock a “hold” rating in a research report on Friday, June 28th. Finally, Deutsche Bank set a $142.00 price objective on MCCORMICK & CO /SH and gave the stock a “hold” rating in a research report on Friday, June 28th.

In other MCCORMICK & CO /SH news, Director Michael Aaron Conway sold 5,000 shares of MCCORMICK & CO /SH stock in a transaction on Monday, October 7th. The stock was sold at an average price of $168.59, for a total transaction of $842,950.00. Following the completion of the transaction, the director now owns 9,501 shares in the company, valued at $1,601,773.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret M. V. Preston sold 2,402 shares of MCCORMICK & CO /SH stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $161.23, for a total value of $387,274.46. Following the transaction, the director now owns 28,370 shares of the company’s stock, valued at approximately $4,574,095.10. The disclosure for this sale can be found here. Insiders have sold 39,902 shares of company stock worth $6,725,405 over the last 90 days. 11.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. ETRADE Capital Management LLC raised its position in MCCORMICK & CO /SH by 1.6% in the second quarter. ETRADE Capital Management LLC now owns 4,082 shares of the company’s stock valued at $633,000 after purchasing an additional 63 shares during the period. 6 Meridian increased its position in shares of MCCORMICK & CO /SH by 2.0% during the second quarter. 6 Meridian now owns 3,473 shares of the company’s stock worth $538,000 after acquiring an additional 69 shares during the period. Flagship Harbor Advisors LLC increased its position in shares of MCCORMICK & CO /SH by 10.3% during the second quarter. Flagship Harbor Advisors LLC now owns 741 shares of the company’s stock worth $114,000 after acquiring an additional 69 shares during the period. Capital Investment Advisory Services LLC increased its position in shares of MCCORMICK & CO /SH by 40.0% during the second quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares during the period. Finally, Kistler Tiffany Companies LLC increased its position in shares of MCCORMICK & CO /SH by 22.9% during the second quarter. Kistler Tiffany Companies LLC now owns 430 shares of the company’s stock worth $67,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 80.25% of the company’s stock.

Shares of MKC opened at $164.76 on Monday. The stock’s 50-day simple moving average is $162.15 and its 200 day simple moving average is $157.81. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 3.86 and a beta of 0.14. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.37 and a current ratio of 0.78. MCCORMICK & CO /SH has a 52-week low of $119.00 and a 52-week high of $171.10.

MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.17. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.34 billion. MCCORMICK & CO /SH had a return on equity of 21.63% and a net margin of 13.12%. MCCORMICK & CO /SH’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $1.28 EPS. On average, research analysts forecast that MCCORMICK & CO /SH will post 5.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.28 annualized dividend and a dividend yield of 1.38%. MCCORMICK & CO /SH’s dividend payout ratio is presently 45.88%.

About MCCORMICK & CO /SH

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

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Analyst Recommendations for MCCORMICK & CO /SH (NYSE:MKC)

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