Insider Selling: McCormick & Company, Incorporated (NYSE:MKC) Director Sells 5,000 Shares of Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the transaction, the director now directly owns 28,217 shares of the company’s stock, valued at approximately $2,210,237.61. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

McCormick & Company, Incorporated Stock Up 0.4 %

Shares of McCormick & Company, Incorporated stock traded up $0.32 during trading on Tuesday, hitting $78.50. 269,450 shares of the stock traded hands, compared to its average volume of 1,905,907. The company has a fifty day moving average price of $81.09 and a two-hundred day moving average price of $76.15. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month 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 stock has a market cap of $21.07 billion, a P/E ratio of 26.59, a PEG ratio of 3.60 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. McCormick & Company, Incorporated’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. Equities research analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several large investors have recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in McCormick & Company, Incorporated in the third quarter valued at about $28,000. Capital Advisors Ltd. LLC boosted its position in McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated during the second quarter valued at approximately $29,000. Kennebec Savings Bank acquired a new position in McCormick & Company, Incorporated during the third quarter valued at approximately $40,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MKC shares. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Bank of America boosted their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen upped their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $79.57.

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.