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 dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
McCormick & Company, Incorporated Trading Down 0.6 %
Shares of NYSE:MKC opened at $77.07 on Friday. The company has a market cap of $20.67 billion, a P/E ratio of 26.30, a P/E/G ratio of 3.67 and a beta of 0.75. The stock's 50-day moving average is $76.62 and its 200-day moving average is $78.39. McCormick & Company, Incorporated has a 52-week low of $64.86 and a 52-week high of $85.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping 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%. Equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.
McCormick & Company, Incorporated Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.34%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.43%.
Analysts Set New Price Targets
MKC has been the topic of several recent research reports. JPMorgan Chase & Co. raised 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. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Barclays cut their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.75.
View Our Latest Research Report on MKC
Institutional Investors Weigh In On McCormick & Company, Incorporated
Institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in McCormick & Company, Incorporated during the third quarter worth about $20,227,000. Hemenway Trust Co LLC lifted its stake in McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company's stock worth $11,552,000 after purchasing an additional 58,511 shares during the period. Wellington Management Group LLP lifted its stake in McCormick & Company, Incorporated by 21.7% during the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company's stock worth $11,500,000 after purchasing an additional 24,881 shares during the period. Oppenheimer & Co. Inc. lifted its stake in McCormick & Company, Incorporated by 57.6% during the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company's stock worth $3,298,000 after purchasing an additional 14,652 shares during the period. Finally, Qsemble Capital Management LP bought a new position in McCormick & Company, Incorporated during the third quarter worth about $1,104,000. 79.74% of the stock is owned by institutional investors and hedge funds.
About McCormick & Company, Incorporated
(
Get Free Report)
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.
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