McCormick & Company, Incorporated (NYSE:MKC) Insider Sells $128,328.10 in Stock

McCormick & Company, Incorporated (NYSE:MKC) insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

McCormick & Company, Incorporated Stock Up 0.4 %

Shares of MKC stock traded up $0.33 during trading hours on Tuesday, reaching $75.02. 1,701,212 shares of the company’s stock were exchanged, compared to its average volume of 2,070,717. The stock’s 50 day moving average is $70.80 and its 200-day moving average is $67.56. The company has a market cap of $20.14 billion, a price-to-earnings ratio of 28.51, a P/E/G ratio of 3.79 and a beta of 0.74. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the firm earned $0.59 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. Analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Wall Street Analyst Weigh In

MKC has been the topic of a number of recent analyst reports. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, April 2nd. Barclays lifted their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. JPMorgan Chase & Co. reduced their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Finally, Citigroup lifted their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $77.88.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in McCormick & Company, Incorporated by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 30,235,814 shares of the company’s stock valued at $2,068,734,000 after purchasing an additional 105,272 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of McCormick & Company, Incorporated by 41.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock worth $366,667,000 after acquiring an additional 1,577,636 shares in the last quarter. Northern Trust Corp boosted its stake in shares of McCormick & Company, Incorporated by 2.8% during the 3rd quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock worth $260,108,000 after acquiring an additional 93,034 shares in the last quarter. Norges Bank purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $160,999,000. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,221,637 shares of the company’s stock worth $168,045,000 after acquiring an additional 46,063 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

About McCormick & Company, Incorporated

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.