Insider Selling: McCormick & Company, Incorporated (NYSE:MKC) Director Sells 28,092 Shares of Stock

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 6,177 shares of the company's stock, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded down $1.05 on Tuesday, hitting $75.91. 1,421,638 shares of the company traded hands, compared to its average volume of 1,932,575. McCormick & Company, Incorporated has a 12-month low of $65.72 and a 12-month high of $85.49. 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 company has a market cap of $20.36 billion, a P/E ratio of 25.91, a P/E/G ratio of 3.67 and a beta of 0.75. The firm's 50-day simple moving average is $76.56 and its 200 day simple moving average is $78.41.

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

Institutional Trading of McCormick & Company, Incorporated

A number of hedge funds have recently bought and sold shares of MKC. Vanguard Group Inc. raised its stake in shares of McCormick & Company, Incorporated by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock worth $2,419,653,000 after acquiring an additional 303,973 shares in the last quarter. State Street Corp raised its position in McCormick & Company, Incorporated by 7.8% in the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company's stock worth $1,260,499,000 after purchasing an additional 1,114,706 shares during the period. Geode Capital Management LLC lifted its stake in McCormick & Company, Incorporated by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock worth $458,114,000 after purchasing an additional 137,679 shares during the last quarter. Northern Trust Corp boosted its position in McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock valued at $281,573,000 after buying an additional 531,060 shares during the period. Finally, Voya Investment Management LLC grew its stake in shares of McCormick & Company, Incorporated by 10.2% during the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock valued at $269,060,000 after buying an additional 326,041 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MKC. JPMorgan Chase & Co. lifted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company 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 upped their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays lowered their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to 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.