McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) Director Michael D. Mangan sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total transaction of $395,000.00. Following the transaction, the director now owns 40,436 shares of the company's stock, valued at approximately $3,194,444. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
McCormick & Company, Incorporated Stock Up 1.5 %
Shares of McCormick & Company, Incorporated stock traded up $1.12 during trading hours on Friday, reaching $77.46. 1,391,476 shares of the company's stock were exchanged, compared to its average volume of 1,909,301. The company has a 50 day moving average of $80.92 and a two-hundred day moving average of $76.21. McCormick & Company, Incorporated has a fifty-two week low of $63.67 and a fifty-two week high of $85.49. The stock has a market cap of $20.79 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.57 and a beta of 0.77. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the previous year, the business posted $0.65 EPS. The business's revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.
McCormick & Company, Incorporated Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.17%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 57.14%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Advisors Ltd. LLC lifted its holdings in shares of McCormick & Company, Incorporated by 87.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company's stock valued at $27,000 after buying an additional 175 shares during the period. Capital Performance Advisors LLP acquired a new position in McCormick & Company, Incorporated in the third quarter worth approximately $28,000. OFI Invest Asset Management acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $29,000. 1620 Investment Advisors Inc. acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in McCormick & Company, Incorporated during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 79.74% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on MKC shares. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a report on Wednesday, October 2nd. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. TD Cowen increased 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 report on Wednesday, October 2nd. Finally, Bank of America raised their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. One equities 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $79.57.
Check Out Our Latest Analysis on MKC
McCormick & Company, Incorporated Company Profile
(
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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.
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