Key Points
- Director Gavin Hattersley purchased 2,000 McCormick shares on April 10 at an average price of $52.98 for $105,960, boosting his holdings to 2,906 shares (a 220.75% increase), according to an SEC filing.
- McCormick beat quarterly expectations with EPS of $0.66 versus $0.61 and revenue of $1.87 billion (up 16.7% year-over-year), and analysts forecast fiscal-year EPS of about $3.07.
- The company declared a quarterly dividend of $0.48 per share (ex-dividend April 20, payable April 27) for a ~3.5% yield, while brokerages have trimmed targets and the consensus rating is Hold with an average target of $64.27.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) Director Gavin Hattersley acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the transaction, the director owned 2,906 shares of the company's stock, valued at $153,959.88. This represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
McCormick & Company, Incorporated Price Performance
Shares of MKC stock opened at $54.15 on Tuesday. McCormick & Company, Incorporated has a 1-year low of $47.52 and a 1-year high of $78.16. The stock's 50-day moving average is $60.98 and its 200 day moving average is $64.33. The company has a market cap of $14.55 billion, a P/E ratio of 8.88, a PEG ratio of 2.63 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company earned $0.60 earnings per share. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. Research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share 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 27th. Investors of record on Monday, April 20th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a yield of 3.5%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 31.48%.
Institutional Investors Weigh In On McCormick & Company, Incorporated
Several institutional investors have recently added to or reduced their stakes in the business. Heartwood Wealth Advisors LLC purchased a new position in shares of McCormick & Company, Incorporated in the third quarter worth about $28,000. GoalVest Advisory LLC purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $28,000. Deseret Mutual Benefit Administrators raised its stake in shares of McCormick & Company, Incorporated by 67.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company's stock worth $28,000 after purchasing an additional 164 shares during the last quarter. Motiv8 Investments LLC purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $28,000. Finally, Zions Bancorporation National Association UT raised its stake in shares of McCormick & Company, Incorporated by 340.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 462 shares of the company's stock worth $31,000 after purchasing an additional 357 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on MKC. HSBC lowered their price target on McCormick & Company, Incorporated from $69.00 to $55.00 and set a "hold" rating for the company in a report on Thursday, March 26th. Stifel Nicolaus lowered their price target on McCormick & Company, Incorporated from $65.00 to $55.00 and set a "hold" rating for the company in a report on Wednesday, April 1st. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $67.00 to $64.00 and set an "overweight" rating for the company in a report on Wednesday, April 1st. Barclays lowered their price target on McCormick & Company, Incorporated from $67.00 to $58.00 and set an "equal weight" rating for the company in a report on Tuesday, March 31st. Finally, Zacks Research raised McCormick & Company, Incorporated from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $64.27.
View Our Latest Stock Report on McCormick & Company, Incorporated
McCormick & Company, Incorporated Company Profile
(
Get Free Report)
McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.
McCormick's product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.
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