McCormick & Company, Incorporated (NYSE:MKC) Director Lawrence Erik Kurzius Sells 80,000 Shares

McCormick & Company, Incorporated (NYSE:MKC) Director Lawrence Erik Kurzius sold 80,000 shares of McCormick & Company, Incorporated stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the transaction, the director now owns 199,258 shares in the company, valued at $14,695,277.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded down $0.44 on Wednesday, hitting $73.56. The company’s stock had a trading volume of 476,999 shares, compared to its average volume of 1,935,554. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. The company has a market capitalization of $19.74 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 3.81 and a beta of 0.73. The stock’s 50-day moving average is $73.99 and its two-hundred day moving average is $69.43. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.28%. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $36,000. VisionPoint Advisory Group LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $44,000. Milestone Investment Advisors LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $47,000. Valley National Advisers Inc. boosted its position in McCormick & Company, Incorporated by 283.9% during the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after acquiring an additional 582 shares during the period. Finally, Private Trust Co. NA boosted its position in McCormick & Company, Incorporated by 59.1% during the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after acquiring an additional 290 shares during the period. Institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup boosted their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, April 2nd. Barclays increased their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Finally, Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.88.

McCormick & Company, Incorporated Company Profile

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.