McCormick & Company, Incorporated (MKC) Receiving Somewhat Favorable Media Coverage, Analysis Shows

Media coverage about McCormick & Company, Incorporated (NYSE:MKC) has been trending somewhat positive this week, according to Accern. Accern rates the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. McCormick & Company, Incorporated earned a coverage optimism score of 0.14 on Accern’s scale. Accern also gave news coverage about the company an impact score of 46.1253225442316 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

Here are some of the news articles that may have impacted Accern’s analysis:

Several research firms recently commented on MKC. Zacks Investment Research cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Jefferies Group set a $115.00 target price on McCormick & Company, Incorporated and gave the company a “buy” rating in a research report on Saturday, October 7th. Stifel Nicolaus restated a “hold” rating and issued a $103.00 target price (up from $95.00) on shares of McCormick & Company, Incorporated in a research report on Monday, October 2nd. Citigroup raised their target price on McCormick & Company, Incorporated from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Monday, October 2nd. Finally, Credit Suisse Group restated a “buy” rating and issued a $115.00 target price (up from $112.00) on shares of McCormick & Company, Incorporated in a research report on Friday, September 29th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $106.00.

Shares of McCormick & Company, Incorporated (NYSE MKC) traded up $0.66 during mid-day trading on Friday, hitting $102.85. The stock had a trading volume of 924,744 shares, compared to its average volume of 1,006,932. McCormick & Company, Incorporated has a one year low of $88.79 and a one year high of $106.50. The firm has a market cap of $13,473.04, a PE ratio of 25.91, a PEG ratio of 2.60 and a beta of 0.53. The company has a current ratio of 0.95, a quick ratio of 0.47 and a debt-to-equity ratio of 1.86.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, September 28th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.07. McCormick & Company, Incorporated had a return on equity of 26.09% and a net margin of 10.05%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. sell-side analysts predict that McCormick & Company, Incorporated will post 4.22 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, December 28th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 2.02%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 51.93%.

In other news, VP Michael R. Smith sold 5,500 shares of McCormick & Company, Incorporated stock in a transaction on Friday, September 29th. The stock was sold at an average price of $102.60, for a total transaction of $564,300.00. Following the transaction, the vice president now directly owns 19,248 shares in the company, valued at approximately $1,974,844.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Freeman A. Hrabowski III sold 3,000 shares of McCormick & Company, Incorporated stock in a transaction on Friday, October 13th. The shares were sold at an average price of $98.68, for a total value of $296,040.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,000 shares of company stock worth $1,598,490. 15.30% of the stock is owned by insiders.

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About McCormick & Company, Incorporated

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

Insider Buying and Selling by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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