McCormick & Company, Incorporated (NYSE:MKC) Director Michael D. Mangan Sells 5,000 Shares

McCormick & Company, Incorporated (NYSE:MKC) Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the transaction, the director now directly owns 40,436 shares in the company, valued at $3,174,226. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

McCormick & Company, Incorporated Stock Down 2.8 %

McCormick & Company, Incorporated stock opened at $76.66 on Thursday. The firm has a market capitalization of $20.57 billion, a P/E ratio of 26.07, a P/E/G ratio of 3.57 and a beta of 0.77. The company has a 50-day simple moving average of $81.02 and a 200-day simple moving average of $76.19. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 earnings per share. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a dividend of $0.42 per share. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.19%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Capital Advisors Ltd. LLC raised its stake in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in McCormick & Company, Incorporated during the 3rd quarter valued at about $28,000. OFI Invest Asset Management bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $29,000. 1620 Investment Advisors Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth approximately $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $39,000. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

MKC has been the topic of a number of research analyst reports. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America raised their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $79.57.

About McCormick & Company, Incorporated

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.