Insider Selling: McCormick & Company, Incorporated (MKC) VP Sells 2,575 Shares of Stock

McCormick & Company, Incorporated (NYSE:MKC) VP Michael R. Smith sold 2,575 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $107.96, for a total value of $277,997.00. Following the completion of the sale, the vice president now owns 17,312 shares of the company’s stock, valued at $1,869,003.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of McCormick & Company, Incorporated (MKC) traded down $0.72 on Thursday, reaching $108.05. 632,102 shares of the company’s stock were exchanged, compared to its average volume of 1,177,585. The company has a quick ratio of 0.42, a current ratio of 0.83 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $14,155.41, a PE ratio of 29.35, a P/E/G ratio of 2.44 and a beta of 0.53. McCormick & Company, Incorporated has a twelve month low of $90.25 and a twelve month high of $109.67.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 25th. The company reported $1.54 EPS for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.02. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. McCormick & Company, Incorporated had a net margin of 9.88% and a return on equity of 25.30%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 earnings per share. research analysts forecast that McCormick & Company, Incorporated will post 4.88 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.93%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. McCormick & Company, Incorporated’s dividend payout ratio is 56.22%.

A number of analysts recently weighed in on MKC shares. Jefferies Group set a $115.00 price objective on McCormick & Company, Incorporated and gave the company a “buy” rating in a report on Saturday, October 7th. Zacks Investment Research downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Credit Suisse Group set a $115.00 price objective on McCormick & Company, Incorporated and gave the company a “buy” rating in a report on Tuesday, December 12th. Deutsche Bank downgraded McCormick & Company, Incorporated from a “hold” rating to a “sell” rating and decreased their price objective for the company from $103.00 to $98.00 in a report on Friday, January 19th. Finally, Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $103.00 to $110.00 and gave the company a “hold” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $107.56.

Institutional investors and hedge funds have recently modified their holdings of the business. Zions Bancorporation boosted its position in McCormick & Company, Incorporated by 5,071.4% during the third quarter. Zions Bancorporation now owns 1,086 shares of the company’s stock valued at $111,000 after acquiring an additional 1,065 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in McCormick & Company, Incorporated by 136.6% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 1,500 shares of the company’s stock valued at $154,000 after acquiring an additional 866 shares during the last quarter. Dupont Capital Management Corp bought a new stake in McCormick & Company, Incorporated during the third quarter valued at $173,000. YorkBridge Wealth Partners LLC bought a new stake in McCormick & Company, Incorporated during the third quarter valued at $174,000. Finally, Kornitzer Capital Management Inc. KS bought a new stake in McCormick & Company, Incorporated during the third quarter valued at $200,000. 76.11% of the stock is currently owned by institutional investors and hedge funds.

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McCormick & Company, Incorporated 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.

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

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