McCormick & Company, Incorporated (NYSE:MKC) Director Lawrence Erik Kurzius Sells 50,000 Shares

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

McCormick & Company, Incorporated Stock Down 2.8 %

Shares of NYSE MKC traded down $2.14 during mid-day trading on Monday, hitting $73.87. The company had a trading volume of 4,690,774 shares, compared to its average volume of 2,319,692. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The company has a market capitalization of $19.81 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The firm has a 50-day simple moving average of $79.91 and a two-hundred day simple moving average of $78.69.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

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McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.44%. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

Analyst Ratings Changes

Several analysts recently commented on the company. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Barclays reduced their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued 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 an average rating of "Hold" and a consensus target price of $83.14.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several hedge funds have recently bought and sold shares of MKC. Wellington Management Group LLP boosted its stake in shares of McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company's stock worth $11,500,000 after acquiring an additional 24,881 shares during the period. DJE Kapital AG acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at $4,228,000. SBI Securities Co. Ltd. bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $234,000. Asset Management One Co. Ltd. lifted its stake in shares of McCormick & Company, Incorporated by 16.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company's stock worth $10,547,000 after buying an additional 19,491 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in shares of McCormick & Company, Incorporated by 16.4% during the 4th quarter. DAVENPORT & Co LLC now owns 87,870 shares of the company's stock worth $6,699,000 after buying an additional 12,356 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

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.