Deutsche Bank Aktiengesellschaft Cuts McCormick & Company, Incorporated (NYSE:MKC) Price Target to $91.00

McCormick & Company, Incorporated (NYSE:MKCGet Rating) had its target price lowered by Deutsche Bank Aktiengesellschaft from $99.00 to $91.00 in a research report sent to investors on Tuesday morning, The Fly reports.

A number of other equities research analysts also recently issued reports on the company. StockNews.com started coverage on McCormick & Company, Incorporated in a research report on Thursday, March 31st. They issued a hold rating on the stock. TheStreet downgraded McCormick & Company, Incorporated from a b rating to a c+ rating in a research report on Wednesday, June 15th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $98.00.

NYSE:MKC opened at $85.50 on Tuesday. The company has a market cap of $22.92 billion, a P/E ratio of 30.87, a P/E/G ratio of 4.34 and a beta of 0.45. The stock’s fifty day moving average price is $93.96 and its two-hundred day moving average price is $96.08. McCormick & Company, Incorporated has a 1 year low of $77.85 and a 1 year high of $107.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.73 and a quick ratio of 0.32.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last posted its earnings results on Tuesday, March 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.47 billion. McCormick & Company, Incorporated had a return on equity of 18.00% and a net margin of 11.77%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 earnings per share. On average, analysts expect that McCormick & Company, Incorporated will post 3.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 25th. Investors of record on Monday, April 11th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, April 8th. This represents a $1.48 dividend on an annualized basis and a yield of 1.73%. McCormick & Company, Incorporated’s dividend payout ratio is presently 53.43%.

In related news, CFO Michael R. Smith sold 19,986 shares of the stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $104.04, for a total value of $2,079,343.44. Following the transaction, the chief financial officer now owns 93,025 shares of the company’s stock, valued at $9,678,321. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.90% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Offit Capital Advisors LLC increased its stake in McCormick & Company, Incorporated by 24.9% in the first quarter. Offit Capital Advisors LLC now owns 5,352 shares of the company’s stock valued at $534,000 after acquiring an additional 1,068 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of McCormick & Company, Incorporated by 4.4% during the first quarter. J.W. Cole Advisors Inc. now owns 9,191 shares of the company’s stock valued at $917,000 after buying an additional 386 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of McCormick & Company, Incorporated by 85.4% during the first quarter. Advisory Services Network LLC now owns 9,885 shares of the company’s stock valued at $986,000 after buying an additional 4,552 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 4.9% during the first quarter. EP Wealth Advisors LLC now owns 4,012 shares of the company’s stock valued at $400,000 after buying an additional 188 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of McCormick & Company, Incorporated by 15.4% during the first quarter. The Manufacturers Life Insurance Company now owns 222,496 shares of the company’s stock valued at $22,205,000 after buying an additional 29,667 shares during the last quarter. 74.86% of the stock is currently owned by institutional investors and hedge funds.

About McCormick & Company, Incorporated (Get Rating)

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

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