Gregory Repas Sells 2,750 Shares of McCormick & Company, Incorporated (NYSE:MKC) Stock

McCormick & Company, Incorporated (NYSE:MKC) VP Gregory Repas sold 2,750 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares in the company, valued at $184,497.72. This represents a 54.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

McCormick & Company, Incorporated Stock Down 5.5 %

Shares of MKC stock opened at $76.36 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The firm has a market capitalization of $20.48 billion, a PE ratio of 26.06, a P/E/G ratio of 3.76 and a beta of 0.71. The stock’s 50-day simple moving average is $79.91 and its 200-day simple moving average is $78.72.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Private Wealth Advisors LLC raised its position in McCormick & Company, Incorporated by 3.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after acquiring an additional 136 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of McCormick & Company, Incorporated by 2.8% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company’s stock valued at $382,000 after purchasing an additional 137 shares in the last quarter. Sage Capital Advisors llc lifted its stake in shares of McCormick & Company, Incorporated by 2.8% in the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company’s stock valued at $413,000 after purchasing an additional 137 shares during the period. Empower Advisory Group LLC boosted its holdings in McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after buying an additional 138 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in McCormick & Company, Incorporated by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company’s stock valued at $3,278,000 after buying an additional 139 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $83.14.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.