MCCORMICK & CO /SH NV (MKC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of MCCORMICK & CO /SH NV (NYSE:MKC) have earned a consensus rating of “Hold” from the eleven analysts that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $132.57.

A number of brokerages have recently issued reports on MKC. Jefferies Financial Group reaffirmed a “buy” rating and issued a $150.00 price objective on shares of MCCORMICK & CO /SH in a research report on Monday, January 28th. Consumer Edge raised shares of MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 25th. Deutsche Bank raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Credit Suisse Group set a $108.00 price objective on shares of MCCORMICK & CO /SH and gave the stock a “buy” rating in a research report on Thursday, December 20th. Finally, Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a research report on Tuesday, April 2nd.

Shares of NYSE MKC traded up $1.14 during mid-day trading on Monday, reaching $155.00. 25,183 shares of the company traded hands, compared to its average volume of 1,285,021. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.34 and a current ratio of 0.78. The firm has a market cap of $20.40 billion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 3.25 and a beta of 0.26. MCCORMICK & CO /SH has a fifty-two week low of $99.53 and a fifty-two week high of $156.00.

MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.06. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. MCCORMICK & CO /SH had a return on equity of 21.41% and a net margin of 12.19%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 EPS. As a group, equities research analysts forecast that MCCORMICK & CO /SH will post 5.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Friday, April 5th. MCCORMICK & CO /SH’s dividend payout ratio is presently 45.88%.

In other MCCORMICK & CO /SH news, major shareholder Alan D. Wilson sold 94,400 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $151.47, for a total transaction of $14,298,768.00. Following the sale, the insider now owns 206,553 shares of the company’s stock, valued at approximately $31,286,582.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Smith sold 9,200 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $154.49, for a total transaction of $1,421,308.00. Following the sale, the vice president now directly owns 30,553 shares in the company, valued at approximately $4,720,132.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,600 shares of company stock worth $28,320,076. 11.00% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC purchased a new stake in shares of MCCORMICK & CO /SH in the 4th quarter valued at $26,000. Winthrop Partners WNY LLC purchased a new stake in shares of MCCORMICK & CO /SH in the 4th quarter valued at $28,000. JNBA Financial Advisors purchased a new stake in shares of MCCORMICK & CO /SH in the 4th quarter valued at $28,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of MCCORMICK & CO /SH by 38,047.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,051,488 shares of the company’s stock valued at $36,000 after acquiring an additional 5,038,246 shares during the last quarter. Finally, Financial Advantage Inc. purchased a new stake in shares of MCCORMICK & CO /SH in the 4th quarter valued at $41,000. 80.26% of the stock is currently owned by institutional investors.

MCCORMICK & CO /SH Company Profile

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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