Traders Purchase Large Volume of McCormick & Company, Call Options (MKC)
McCormick & Company, Incorporated (NYSE:MKC) was the target of some unusual options trading on Friday. Stock investors bought 1,060 call options on the stock. This represents an increase of Infinity compared to the average volume of 0 call options.
MKC has been the topic of several recent analyst reports. Credit Suisse Group increased their target price on McCormick & Company, from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Monday, September 18th. Zacks Investment Research downgraded McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Jefferies Group LLC set a $120.00 target price on McCormick & Company, and gave the company a “buy” rating in a research note on Monday, October 30th. Citigroup Inc. raised their price target on McCormick & Company, from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Finally, BidaskClub upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $106.00.
In other McCormick & Company, news, VP Michael R. Smith sold 5,500 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $102.60, for a total transaction of $564,300.00. Following the sale, the vice president now directly owns 19,248 shares in the company, valued at approximately $1,974,844.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Maritza Gomez Montiel sold 2,500 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $96.26, for a total value of $240,650.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,000 shares of company stock worth $1,598,490. Company insiders own 15.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MKC. Amundi Pioneer Asset Management Inc. raised its holdings in McCormick & Company, by 81.9% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock worth $167,208,000 after purchasing an additional 733,375 shares during the period. Harbour Capital Advisors LLC raised its holdings in McCormick & Company, by 22,166.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 722,549 shares of the company’s stock worth $7,410,000 after purchasing an additional 719,304 shares during the period. Darrell & King LLC bought a new position in McCormick & Company, in the 3rd quarter worth $34,615,000. Koch Industries Inc. bought a new position in McCormick & Company, in the 2nd quarter worth $306,000. Finally, Vanguard Group Inc. raised its holdings in McCormick & Company, by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 12,264,131 shares of the company’s stock worth $1,195,875,000 after purchasing an additional 301,377 shares during the period. 71.19% of the stock is currently owned by institutional investors.
McCormick & Company, (NYSE:MKC) opened at $100.06 on Wednesday. The stock has a market capitalization of $13,010.00, a price-to-earnings ratio of 25.02, a PEG ratio of 2.51 and a beta of 0.53. McCormick & Company, has a 52 week low of $88.64 and a 52 week high of $106.50. The company has a quick ratio of 0.47, a current ratio of 0.95 and a debt-to-equity ratio of 1.86.
McCormick & Company, (NYSE:MKC) last released its quarterly earnings results on Thursday, September 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.07. McCormick & Company, had a return on equity of 26.09% and a net margin of 10.05%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $1.03 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. research analysts predict that McCormick & Company, will post 4.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.88 dividend on an annualized basis and a yield of 1.88%. McCormick & Company,’s dividend payout ratio is currently 52.08%.
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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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