McCormick & Company, Incorporated (NYSE:MKC) Director Sells $2,163,926.76 in Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock traded down $0.28 on Friday, reaching $77.23. The company’s stock had a trading volume of 344,673 shares, compared to its average volume of 1,915,020. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. The stock’s fifty day simple moving average is $76.62 and its 200-day simple moving average is $78.39. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 1 year low of $64.86 and a 1 year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. Analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Monday, December 30th. McCormick & Company, Incorporated’s payout ratio is presently 61.43%.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wallington Asset Management LLC increased its holdings in McCormick & Company, Incorporated by 3.4% in the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock valued at $340,000 after buying an additional 136 shares in the last quarter. International Private Wealth Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 3.9% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after purchasing an additional 136 shares in the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of McCormick & Company, Incorporated by 2.8% in 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. Empower Advisory Group LLC raised its holdings in McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after purchasing an additional 138 shares during the period. Finally, Bessemer Group Inc. boosted 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 worth $3,278,000 after purchasing an additional 139 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MKC has been the topic of a number of analyst reports. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. 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 report on Friday, January 24th. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Moderate Buy” and an average target price of $83.75.

McCormick & Company, Incorporated Company Profile

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.