MCCORMICK & CO /SH Sees Unusually Large Options Volume (NYSE:MKC)

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MCCORMICK & CO /SH NV (NYSE:MKC) was the target of unusually large options trading activity on Wednesday. Investors acquired 4,000 put options on the company. This represents an increase of approximately 2,369% compared to the typical daily volume of 162 put options.

MKC has been the topic of a number of recent analyst reports. Deutsche Bank increased their price target on shares of MCCORMICK & CO /SH from $156.00 to $182.00 and gave the company a “hold” rating in a report on Friday, June 26th. Argus initiated coverage on shares of MCCORMICK & CO /SH in a report on Thursday, September 24th. They set a “buy” rating and a $215.00 price target on the stock. Jefferies Financial Group upgraded shares of MCCORMICK & CO /SH from an “underperform” rating to a “hold” rating and set a $167.00 price target on the stock in a report on Monday, June 22nd. Finally, Credit Suisse Group increased their price target on shares of MCCORMICK & CO /SH from $187.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $161.55.

In other MCCORMICK & CO /SH news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $199.49, for a total value of $997,450.00. Following the sale, the director now owns 9,433 shares in the company, valued at $1,881,789.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Malcolm Swift sold 24,600 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $181.65, for a total transaction of $4,468,590.00. Following the completion of the sale, the insider now owns 55,464 shares in the company, valued at approximately $10,075,035.60. The disclosure for this sale can be found here. 12.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MKC. State Street Corp boosted its holdings in shares of MCCORMICK & CO /SH by 0.3% in the 1st quarter. State Street Corp now owns 6,817,497 shares of the company’s stock valued at $962,699,000 after acquiring an additional 18,164 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of MCCORMICK & CO /SH by 0.5% in the 1st quarter. Geode Capital Management LLC now owns 2,008,227 shares of the company’s stock valued at $283,349,000 after acquiring an additional 10,531 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of MCCORMICK & CO /SH by 114.3% in the 2nd quarter. Nordea Investment Management AB now owns 1,044,428 shares of the company’s stock valued at $187,924,000 after acquiring an additional 557,132 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of MCCORMICK & CO /SH by 5.3% in the 2nd quarter. California Public Employees Retirement System now owns 1,040,128 shares of the company’s stock valued at $186,609,000 after acquiring an additional 52,169 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of MCCORMICK & CO /SH by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 998,326 shares of the company’s stock valued at $179,110,000 after acquiring an additional 41,571 shares during the last quarter. Institutional investors and hedge funds own 74.90% of the company’s stock.

Shares of MKC stock opened at $194.10 on Thursday. MCCORMICK & CO /SH has a 12-month low of $112.22 and a 12-month high of $211.07. The company has a current ratio of 1.02, a quick ratio of 0.50 and a debt-to-equity ratio of 1.12. The firm’s 50 day moving average is $199.16 and its 200 day moving average is $174.95. The stock has a market capitalization of $25.86 billion, a P/E ratio of 34.91, a P/E/G ratio of 6.03 and a beta of 0.39.

MCCORMICK & CO /SH (NYSE:MKC) last issued its earnings results on Saturday, October 3rd. The company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.01. MCCORMICK & CO /SH had a net margin of 13.74% and a return on equity of 21.34%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the company posted $1.46 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts predict that MCCORMICK & CO /SH will post 5.75 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 19th. Shareholders of record on Monday, October 5th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $2.48 annualized dividend and a yield of 1.28%. MCCORMICK & CO /SH’s payout ratio is presently 46.36%.

MCCORMICK & CO /SH Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

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