McCormick & Company, Incorporated (NYSE:MKC) Insider Katherine Jenkins Sells 1,726 Shares

McCormick & Company, Incorporated (NYSE:MKC) insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

McCormick & Company, Incorporated Stock Up 0.4 %

MKC opened at $75.02 on Wednesday. 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 stock has a market cap of $20.14 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 3.79 and a beta of 0.74. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The company’s 50-day moving average price is $71.00 and its two-hundred day moving average price is $67.63.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

Institutional Trading of McCormick & Company, Incorporated

A number of institutional investors have recently modified their holdings of MKC. Norges Bank purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $160,999,000. Massachusetts Financial Services Co. MA lifted its stake in shares of McCormick & Company, Incorporated by 41.7% during 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 buying an additional 1,577,636 shares in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $92,340,000. Impax Asset Management Group plc lifted its stake in shares of McCormick & Company, Incorporated by 157.2% during the 4th quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock valued at $72,749,000 after buying an additional 649,908 shares in the last quarter. Finally, Fenimore Asset Management Inc. lifted its stake in shares of McCormick & Company, Incorporated by 369.2% during the 4th quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock valued at $47,554,000 after buying an additional 546,911 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, April 2nd. Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Citigroup upped their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $77.88.

McCormick & Company, Incorporated Company Profile

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.