McCormick & Company, Incorporated (NYSE:MKC) VP Sells $223,905.00 in Stock

McCormick & Company, Incorporated (NYSE:MKC) VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. This represents a 54.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

McCormick & Company, Incorporated Stock Down 3.6 %

Shares of McCormick & Company, Incorporated stock traded down $2.93 during trading on Friday, reaching $77.91. The company had a trading volume of 1,433,983 shares, compared to its average volume of 1,900,843. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The firm’s fifty day moving average is $79.88 and its 200-day moving average is $78.82. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.31%. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $83.14.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MKC. Norges Bank acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $223,202,000. Select Equity Group L.P. acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $104,863,000. State Street Corp lifted its holdings in shares of McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of McCormick & Company, Incorporated by 47.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company’s stock worth $216,771,000 after purchasing an additional 915,807 shares during the last quarter. Finally, Northern Trust Corp boosted its position in McCormick & Company, Incorporated by 16.8% during the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock valued at $281,573,000 after purchasing an additional 531,060 shares during the period. 79.74% of the stock is currently owned by institutional investors.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.