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 company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the completion of the sale, the director now directly owns 40,436 shares of the company’s stock, valued at $3,194,444. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

McCormick & Company, Incorporated Stock Up 0.7 %

McCormick & Company, Incorporated stock traded up $0.55 during mid-day trading on Friday, reaching $76.89. 95,865 shares of the company’s stock were exchanged, compared to its average volume of 1,903,330. The company has a market cap of $20.63 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.57 and a beta of 0.77. The company has a fifty day moving average of $81.02 and a 200-day moving average of $76.19. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s payout ratio is currently 57.14%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MKC shares. Stifel Nicolaus increased their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Bank of America raised their target price 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. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen upped 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 report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $79.57.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after buying an additional 883,327 shares during the last quarter. Champlain Investment Partners LLC increased its stake in McCormick & Company, Incorporated by 4.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock valued at $246,646,000 after buying an additional 136,080 shares during the period. ProShare Advisors LLC raised its position in McCormick & Company, Incorporated by 2.4% during the 1st quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock worth $201,442,000 after buying an additional 60,512 shares during the last quarter. Nuance Investments LLC lifted its stake in shares of McCormick & Company, Incorporated by 10.5% in the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after acquiring an additional 99,741 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after acquiring an additional 975,255 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

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.