McCormick & Company, Incorporated (NYSE:MKC) Director Sells $539,000.00 in Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the transaction, the director now owns 5,594 shares of the company’s stock, valued at $430,738. The sale was disclosed in a document filed with the SEC, which is available through this link.

McCormick & Company, Incorporated Stock Up 1.0 %

MKC stock opened at $76.81 on Monday. The stock has a market capitalization of $20.60 billion, a P/E ratio of 29.32, a P/E/G ratio of 3.97 and a beta of 0.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.28. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $94.39. The business has a fifty day moving average price of $68.42 and a 200-day moving average price of $67.73.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. McCormick & Company, Incorporated’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 EPS. Equities analysts forecast that McCormick & Company, Incorporated will post 2.83 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of recent research reports. Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. lowered their price objective 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. Barclays boosted their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Citigroup lifted 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $76.43.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of large investors have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC boosted its stake in shares of 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 buying an additional 5,764,492 shares during the last quarter. Norges Bank purchased a new position in McCormick & Company, Incorporated in the fourth quarter worth about $160,999,000. Massachusetts Financial Services Co. MA grew its stake in shares of McCormick & Company, Incorporated by 41.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock valued at $366,667,000 after purchasing an additional 1,577,636 shares during the period. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $92,340,000. Finally, Holocene Advisors LP bought a new position in shares of McCormick & Company, Incorporated in the 2nd quarter worth approximately $77,091,000. Institutional investors own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

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.