Patricia A. Little Sells 20,000 Shares of McCormick & Company, Incorporated (NYSE:MKC) Stock

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the sale, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

McCormick & Company, Incorporated Stock Down 2.6 %

Shares of McCormick & Company, Incorporated stock opened at $76.25 on Thursday. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39. The company has a 50 day moving average of $68.89 and a 200 day moving average of $67.61. 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 company has a market capitalization of $20.45 billion, a P/E ratio of 29.10, a P/E/G ratio of 3.94 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the company earned $0.59 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts forecast that McCormick & Company, Incorporated will post 2.84 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.20%. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MKC. JPMorgan Chase & Co. lowered their target price on shares of 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. Barclays raised their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Stifel Nicolaus raised their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Citigroup raised their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Wednesday, March 27th. Finally, Consumer Edge lowered shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.88.

Get Our Latest Stock Report on McCormick & Company, Incorporated

Institutional Trading of McCormick & Company, Incorporated

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in McCormick & Company, Incorporated by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 30,235,814 shares of the company’s stock worth $2,068,734,000 after purchasing an additional 105,272 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of McCormick & Company, Incorporated by 92,736.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,770,708 shares of the company’s stock valued at $478,334,000 after acquiring an additional 5,764,492 shares during the period. Geode Capital Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 5,404,603 shares of the company’s stock valued at $448,737,000 after acquiring an additional 101,633 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of McCormick & Company, Incorporated by 41.7% in the 4th 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 during the period. Finally, Northern Trust Corp increased its holdings in shares of McCormick & Company, Incorporated by 2.8% in the 3rd quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock valued at $260,108,000 after acquiring an additional 93,034 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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