MCCORMICK & CO /SH (MKC) Receives Neutral Rating from Credit Suisse Group

Credit Suisse Group reiterated their neutral rating on shares of MCCORMICK & CO /SH (NYSE:MKC) in a research report released on Friday, MarketBeat.com reports. The firm currently has a $150.00 target price on the stock, up from their prior target price of $137.00.

A number of other research analysts also recently commented on MKC. Zacks Investment Research downgraded shares of MCCORMICK & CO /SH from a hold rating to a sell rating in a research note on Wednesday, September 12th. Jefferies Financial Group set a $135.00 price objective on shares of MCCORMICK & CO /SH and gave the company a buy rating in a research note on Thursday, September 27th. Stifel Nicolaus increased their price objective on shares of MCCORMICK & CO /SH from $117.00 to $125.00 and gave the company a hold rating in a research note on Friday, September 28th. UBS Group set a $130.00 price objective on shares of MCCORMICK & CO /SH and gave the company a hold rating in a research note on Friday, September 28th. Finally, Barclays reiterated a hold rating and set a $129.00 price objective on shares of MCCORMICK & CO /SH in a research note on Sunday, September 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $125.89.

NYSE MKC traded down $0.94 during trading hours on Friday, reaching $150.40. 1,171,731 shares of the company traded hands, compared to its average volume of 1,128,385. MCCORMICK & CO /SH has a 12 month low of $95.43 and a 12 month high of $151.42. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.79 and a quick ratio of 0.36. The company has a market capitalization of $19.75 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 3.34 and a beta of 0.34.

MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings data on Thursday, September 27th. The company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.01. MCCORMICK & CO /SH had a net margin of 16.57% and a return on equity of 21.83%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the firm posted $1.12 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. As a group, analysts anticipate that MCCORMICK & CO /SH will post 4.99 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 23rd. Shareholders of record on Tuesday, October 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 5th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.38%. MCCORMICK & CO /SH’s dividend payout ratio (DPR) is 48.83%.

In other MCCORMICK & CO /SH news, major shareholder Alan D. Wilson sold 111,000 shares of the stock in a transaction on Friday, October 19th. The shares were sold at an average price of $140.59, for a total transaction of $15,605,490.00. Following the sale, the insider now directly owns 218,644 shares of the company’s stock, valued at $30,739,159.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan D. Wilson sold 100,000 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $125.30, for a total transaction of $12,530,000.00. Following the sale, the director now directly owns 212,894 shares in the company, valued at $26,675,618.20. The disclosure for this sale can be found here. Insiders have sold 316,800 shares of company stock worth $43,218,890 over the last three months. 19.20% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the business. Principal Financial Group Inc. increased its holdings in shares of MCCORMICK & CO /SH by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 339,013 shares of the company’s stock worth $36,067,000 after acquiring an additional 11,533 shares during the period. DnB Asset Management AS increased its holdings in shares of MCCORMICK & CO /SH by 3.8% in the 2nd quarter. DnB Asset Management AS now owns 18,919 shares of the company’s stock worth $2,196,000 after acquiring an additional 700 shares during the period. IFM Investors Pty Ltd increased its holdings in shares of MCCORMICK & CO /SH by 58.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 5,456 shares of the company’s stock worth $633,000 after acquiring an additional 2,012 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of MCCORMICK & CO /SH by 6.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 45,851 shares of the company’s stock worth $5,321,000 after acquiring an additional 2,830 shares during the period. Finally, Pennsylvania Trust Co increased its holdings in shares of MCCORMICK & CO /SH by 34.5% in the 2nd quarter. Pennsylvania Trust Co now owns 3,900 shares of the company’s stock worth $453,000 after acquiring an additional 1,000 shares during the period. 80.37% 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 through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

Featured Story: How to calculate compound interest

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

Receive News & Ratings for MCCORMICK & CO /SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MCCORMICK & CO /SH and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply