Insider Selling: McCormick & Company, Incorporated (NYSE:MKC) Insider Sells 1,726 Shares of Stock

McCormick & Company, Incorporated (NYSE:MKC) insider Katherine Jenkins sold 1,726 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded up $0.33 on Tuesday, hitting $75.02. 1,701,212 shares of the company were exchanged, compared to its average volume of 2,070,717. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $94.39. The company has a 50-day moving average price of $70.80 and a 200 day moving average price of $67.56. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $20.14 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 3.79 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is 64.12%.

Institutional Trading of McCormick & Company, Incorporated

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in McCormick & Company, Incorporated by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 30,235,814 shares of the company’s stock worth $2,068,734,000 after acquiring an additional 105,272 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of McCormick & Company, Incorporated by 41.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock valued at $366,667,000 after acquiring an additional 1,577,636 shares in the last quarter. Northern Trust Corp raised its holdings in McCormick & Company, Incorporated by 2.8% in the third quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock worth $260,108,000 after purchasing an additional 93,034 shares in the last quarter. Norges Bank bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $160,999,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of McCormick & Company, Incorporated by 2.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,221,637 shares of the company’s stock valued at $168,045,000 after acquiring an additional 46,063 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays lifted their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Citigroup boosted their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. decreased their price target 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $77.88.

McCormick & Company, Incorporated Company Profile

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.