McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now owns 5,594 shares in the company, valued at approximately $430,738. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
McCormick & Company, Incorporated Price Performance
McCormick & Company, Incorporated stock opened at $76.81 on Friday. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39. The company's 50 day moving average price is $68.19 and its two-hundred day moving average price is $67.86. The stock has a market cap of $20.60 billion, a P/E ratio of 29.32, a P/E/G ratio of 3.97 and a beta of 0.73. The company has a quick ratio of 0.28, a current ratio of 0.68 and a debt-to-equity ratio of 0.63.
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McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the company posted $0.59 earnings per share. McCormick & Company, Incorporated's quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts predict that McCormick & Company, Incorporated will post 2.83 earnings per share for the current year.
McCormick & Company, Incorporated Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.19%. McCormick & Company, Incorporated's dividend payout ratio is currently 64.12%.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on MKC shares. JPMorgan Chase & Co. lowered their target price on 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. Barclays raised their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an "equal weight" rating in a research report on Thursday. Citigroup upped their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a "sell" rating in a report on Wednesday. Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a "hold" rating in a report on Wednesday. Finally, Consumer Edge downgraded McCormick & Company, Incorporated from an "overweight" rating to an "equal weight" rating in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $76.43.
Check Out Our Latest Stock Analysis on MKC
Institutional Investors Weigh In On McCormick & Company, Incorporated
A number of institutional investors and hedge funds have recently bought and sold shares of MKC. Wellington Management Group LLP boosted its position in McCormick & Company, Incorporated by 64.6% during the 3rd quarter. Wellington Management Group LLP now owns 108,623 shares of the company's stock valued at $8,216,000 after acquiring an additional 42,625 shares in the last quarter. Jacobs & Co. CA raised its holdings in McCormick & Company, Incorporated by 12.7% during the fourth quarter. Jacobs & Co. CA now owns 142,949 shares of the company's stock valued at $9,780,000 after acquiring an additional 16,098 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in McCormick & Company, Incorporated by 8.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 179,009 shares of the company's stock valued at $13,540,000 after purchasing an additional 13,440 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of McCormick & Company, Incorporated by 151.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 69,805 shares of the company's stock valued at $5,280,000 after purchasing an additional 42,078 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in McCormick & Company, Incorporated by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,317,845 shares of the company's stock valued at $99,682,000 after buying an additional 19,962 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.
About McCormick & Company, Incorporated
(
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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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