McCormick & Company, Incorporated (NYSE:MKC) Director Michael D. Mangan sold 5,000 shares of McCormick & Company, stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $99.50, for a total value of $497,500.00. Following the sale, the director now directly owns 18,825 shares of the company’s stock, valued at $1,873,087.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of McCormick & Company, Incorporated (NYSE MKC) traded up 1.744% during mid-day trading on Tuesday, reaching $99.689. The company’s stock had a trading volume of 390,037 shares. McCormick & Company, Incorporated has a 12 month low of $88.64 and a 12 month high of $106.50. The company has a 50-day moving average of $98.60 and a 200-day moving average of $98.75. The company has a market cap of $13.06 billion, a P/E ratio of 27.676 and a beta of 0.53.

McCormick & Company, (NYSE:MKC) last announced its quarterly earnings results on Thursday, September 28th. The company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.07. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. Equities research analysts forecast that McCormick & Company, Incorporated will post $4.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Friday, October 6th. McCormick & Company,’s dividend payout ratio (DPR) is currently 51.93%.

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Several institutional investors and hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank grew its position in McCormick & Company, by 24.3% in the 2nd quarter. Toronto Dominion Bank now owns 39,362 shares of the company’s stock worth $3,838,000 after purchasing an additional 7,684 shares during the period. Swiss National Bank grew its position in shares of McCormick & Company, by 1.2% during the 2nd quarter. Swiss National Bank now owns 913,348 shares of the company’s stock valued at $89,061,000 after acquiring an additional 10,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of McCormick & Company, by 15.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,241 shares of the company’s stock valued at $2,949,000 after acquiring an additional 4,044 shares during the period. Mcdaniel Terry & Co. grew its position in shares of McCormick & Company, by 38.6% during the 2nd quarter. Mcdaniel Terry & Co. now owns 106,573 shares of the company’s stock valued at $10,392,000 after acquiring an additional 29,656 shares during the period. Finally, US Bancorp DE grew its position in shares of McCormick & Company, by 1.1% during the 2nd quarter. US Bancorp DE now owns 67,180 shares of the company’s stock valued at $6,550,000 after acquiring an additional 723 shares during the period. 69.98% of the stock is owned by institutional investors.

A number of research firms have commented on MKC. Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a research note on Monday, October 2nd. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Credit Suisse Group reiterated a “buy” rating and issued a $115.00 price target (up previously from $112.00) on shares of McCormick & Company, in a research note on Friday, September 29th. Jefferies Group LLC reiterated a “buy” rating and issued a $110.00 price target on shares of McCormick & Company, in a research note on Thursday, August 31st. Finally, BidaskClub upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $106.00.

McCormick & Company, Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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