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 that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares in the company, valued at $184,497.72. This represents a 54.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $76.36 on Friday. The company has a market capitalization of $20.48 billion, a P/E ratio of 26.06, a P/E/G ratio of 3.76 and a beta of 0.71. The business has a fifty day simple moving average of $79.91 and a two-hundred day simple moving average of $78.76. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The firm’s revenue was up .2% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.36%. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Analysts Set New Price Targets

MKC has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upped their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.14.

Institutional Trading of McCormick & Company, Incorporated

A number of institutional investors have recently modified their holdings of MKC. Wellington Management Group LLP lifted its position in shares of McCormick & Company, Incorporated by 21.7% during the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after acquiring an additional 24,881 shares in the last quarter. DJE Kapital AG bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $4,228,000. SBI Securities Co. Ltd. bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $234,000. Asset Management One Co. Ltd. lifted its holdings in McCormick & Company, Incorporated by 16.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock worth $10,547,000 after purchasing an additional 19,491 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in McCormick & Company, Incorporated by 16.4% during the 4th quarter. DAVENPORT & Co LLC now owns 87,870 shares of the company’s stock worth $6,699,000 after purchasing an additional 12,356 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

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.