McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) insider Katherine Jenkins sold 1,726 shares of the company's stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a document filed with the SEC, which is available through this link.
McCormick & Company, Incorporated Stock Up 0.4 %
Shares of McCormick & Company, Incorporated stock opened at $75.02 on Wednesday. The stock has a 50-day moving average price of $71.00 and a 200 day moving average price of $67.63. The company has a market cap of $20.14 billion, a P/E ratio of 28.63, a P/E/G ratio of 3.79 and a beta of 0.74. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The business's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS. As a group, analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
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The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued 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 was Friday, April 5th. McCormick & Company, Incorporated's dividend payout ratio is 64.12%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Argus raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and set a $88.00 price target on the stock in a research report on Tuesday, April 2nd. Citigroup upped their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a "sell" rating in a research report on Wednesday, March 27th. Stifel Nicolaus upped their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a "hold" rating in a research report on Wednesday, March 27th. Consumer Edge lowered McCormick & Company, Incorporated from an "overweight" rating to an "equal weight" rating in a research report on Monday, January 22nd. Finally, Barclays increased their target price on 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $77.88.
View Our Latest Stock Analysis on McCormick & Company, Incorporated
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in MKC. Legacy Financial Group LLC acquired a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at about $29,000. Anchor Investment Management LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $36,000. VisionPoint Advisory Group LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $44,000. Milestone Investment Advisors LLC bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth approximately $47,000. Finally, Valley National Advisers Inc. increased its position in McCormick & Company, Incorporated by 283.9% in the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company's stock worth $53,000 after buying an additional 582 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.
McCormick & Company, Incorporated Company Profile
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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.
Further Reading
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