McCormick & Company, Incorporated (NYSE:MKC) Director Patricia A. Little Sells 20,000 Shares

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the sale, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC traded up $1.19 during trading on Tuesday, reaching $77.81. 1,647,847 shares of the company traded hands, compared to its average volume of 2,162,066. The company’s 50 day moving average is $68.42 and its two-hundred day moving average is $67.65. The firm has a market capitalization of $20.87 billion, a PE ratio of 29.24, a PEG ratio of 3.97 and a beta of 0.74. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last released its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.83 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.16%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Institutional Trading of McCormick & Company, Incorporated

A number of institutional investors have recently modified their holdings of MKC. Vanguard Group Inc. increased its holdings in McCormick & Company, Incorporated by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 30,235,814 shares of the company’s stock worth $2,068,734,000 after purchasing an additional 105,272 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in McCormick & Company, Incorporated by 92,736.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,770,708 shares of the company’s stock worth $478,334,000 after purchasing an additional 5,764,492 shares in the last quarter. Geode Capital Management LLC increased its holdings in McCormick & Company, Incorporated by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 5,404,603 shares of the company’s stock worth $448,737,000 after purchasing an additional 101,633 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in McCormick & Company, Incorporated by 41.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock worth $366,667,000 after purchasing an additional 1,577,636 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of McCormick & Company, Incorporated by 2.8% during the third quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock worth $260,108,000 after buying an additional 93,034 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of recent research reports. Barclays lifted their target price on 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. Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. 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 research report on Tuesday. Citigroup boosted their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. reduced their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Two equities 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. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $77.88.

Read Our Latest Stock Report on MKC

McCormick & Company, Incorporated Company Profile

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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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Insider Buying and Selling by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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