McCormick & Company, Incorporated (NYSE:MKC) Director Margaret M. V. Preston Sells 28,092 Shares of Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $77.07 on Friday. The company’s fifty day moving average is $76.62 and its two-hundred day moving average is $78.39. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 12-month low of $64.86 and a 12-month high of $85.49. The company has a market cap of $20.67 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a dividend of $0.45 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s payout ratio is 61.43%.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds and other institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC raised its holdings in shares of McCormick & Company, Incorporated by 23.7% during the third quarter. Exchange Traded Concepts LLC now owns 11,900 shares of the company’s stock worth $979,000 after acquiring an additional 2,282 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of McCormick & Company, Incorporated by 2.2% during the third quarter. Vontobel Holding Ltd. now owns 48,213 shares of the company’s stock worth $3,968,000 after acquiring an additional 1,051 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $212,000. nVerses Capital LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $996,000. Finally, Cardinal Capital Management raised its holdings in shares of McCormick & Company, Incorporated by 1.3% during the third quarter. Cardinal Capital Management now owns 91,851 shares of the company’s stock worth $7,559,000 after acquiring an additional 1,167 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. Barclays cut their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.