McCormick & Company, Incorporated (NYSE:MKC) Director Jacques Tapiero Sells 5,000 Shares

McCormick & Company, Incorporated (NYSE:MKC) Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the transaction, the director now directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Jacques Tapiero also recently made the following trade(s):

• On Monday, November 4th, Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $74.92 on Friday. The company has a market cap of $20.11 billion, a P/E ratio of 25.48, a P/E/G ratio of 3.46 and a beta of 0.77. McCormick & Company, Incorporated has a 52-week low of $63.67 and a 52-week high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71. The firm’s fifty day moving average is $80.64 and its two-hundred day moving average is $76.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) 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 firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. As a group, analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal 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 given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.24%. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America increased their price target 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. Finally, TD Cowen boosted their price objective on 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 issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $79.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MKC. Empowered Funds LLC grew its position in McCormick & Company, Incorporated by 8.3% in the first quarter. Empowered Funds LLC now owns 27,011 shares of the company’s stock worth $2,075,000 after acquiring an additional 2,077 shares in the last quarter. Forsta AP Fonden boosted its holdings in shares of McCormick & Company, Incorporated by 8.0% in the 1st quarter. Forsta AP Fonden now owns 47,200 shares of the company’s stock worth $3,625,000 after purchasing an additional 3,500 shares during the period. Sei Investments Co. increased its position in shares of McCormick & Company, Incorporated by 11.8% during the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after purchasing an additional 16,420 shares during the last quarter. Inspire Investing LLC bought a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at approximately $443,000. Finally, QRG Capital Management Inc. raised its holdings in McCormick & Company, Incorporated by 30.5% during the 1st quarter. QRG Capital Management Inc. now owns 10,782 shares of the company’s stock valued at $828,000 after buying an additional 2,523 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

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.