Insider Selling: McCormick & Company, Incorporated (NYSE:MKC) Director Sells 25,000 Shares of Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the director now directly owns 199,258 shares in the company, valued at approximately $14,944,350. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Lawrence Erik Kurzius also recently made the following trade(s):

• On Tuesday, May 21st, Lawrence Erik Kurzius sold 80,000 shares of McCormick & Company, Incorporated stock. The stock was sold at an average price of $73.75, for a total transaction of $5,900,000.00.

McCormick & Company, Incorporated Stock Down 0.9 %

Shares of McCormick & Company, Incorporated stock opened at $73.59 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The stock has a market capitalization of $19.77 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 3.84 and a beta of 0.75. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $90.45. The company has a 50-day simple moving average of $70.97 and a two-hundred day simple moving average of $70.51.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. On average, analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be paid a $0.42 dividend. The ex-dividend date is Monday, July 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.28%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Wall Street Analysts Forecast Growth

MKC has been the subject of several research analyst reports. TD Cowen dropped their target price on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, April 2nd. Finally, Barclays lifted their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.25.

Institutional Trading of McCormick & Company, Incorporated

Large investors have recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in shares of McCormick & Company, Incorporated in the second quarter worth approximately $29,000. Anchor Investment Management LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $36,000. VisionPoint Advisory Group LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $44,000. Private Trust Co. NA grew its position in McCormick & Company, Incorporated by 59.1% during the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after buying an additional 290 shares during the period. Finally, Valley National Advisers Inc. grew its position in McCormick & Company, Incorporated by 283.9% during the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after buying an additional 582 shares during the period. 79.74% of the stock is currently owned by institutional investors.

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.