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

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) Director Michael D. Mangan sold 5,000 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the transaction, the director now directly owns 40,436 shares in the company, valued at $3,174,226. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

McCormick & Company, Incorporated Trading Down 0.7 %

MKC traded down $0.57 during trading on Monday, reaching $78.18. The company had a trading volume of 1,589,229 shares, compared to its average volume of 1,913,590. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The business has a 50 day simple moving average of $81.09 and a 200-day simple moving average of $76.15. The stock has a market cap of $20.98 billion, a P/E ratio of 26.59, a PEG ratio of 3.57 and a beta of 0.77. McCormick & Company, Incorporated has a 52 week low of $63.67 and a 52 week high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business earned $0.65 EPS. The business's revenue was down .3% on a year-over-year basis. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, October 7th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.15%. McCormick & Company, Incorporated's dividend payout ratio is 57.14%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MKC shares. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a research report on Wednesday, October 2nd. TD Cowen boosted their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. Finally, Bank of America increased 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 investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $79.57.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company's stock worth $2,390,261,000 after purchasing an additional 883,327 shares during the period. Champlain Investment Partners LLC increased its stake in McCormick & Company, Incorporated by 4.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company's stock worth $246,646,000 after buying an additional 136,080 shares during the period. ProShare Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 2.4% during the 1st quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company's stock valued at $201,442,000 after buying an additional 60,512 shares in the last quarter. Nuance Investments LLC boosted its position in McCormick & Company, Incorporated by 10.5% in the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company's stock valued at $74,644,000 after buying an additional 99,741 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in McCormick & Company, Incorporated by 97,525.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company's stock worth $69,256,000 after acquiring an additional 975,255 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

About McCormick & Company, Incorporated

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.