McCormick & Company, Incorporated (NYSE:MKC) Director Sells $2,163,926.76 in Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $77.07 on Monday. The stock has a 50 day moving average of $76.61 and a two-hundred day moving average of $78.41. McCormick & Company, Incorporated has a 12 month low of $64.86 and a 12 month high of $85.49. The firm has a market cap of $20.67 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 3.67 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.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) 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%. On average, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio is 61.43%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MKC. JPMorgan Chase & Co. raised their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays reduced their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Finally, Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.75.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Hedge funds and other institutional investors have recently modified their holdings of the business. DoubleLine ETF Adviser LP grew its stake in McCormick & Company, Incorporated by 2.8% during the 4th quarter. DoubleLine ETF Adviser LP now owns 14,113 shares of the company’s stock valued at $1,076,000 after acquiring an additional 380 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $38,000. Lido Advisors LLC increased its holdings in shares of McCormick & Company, Incorporated by 3.6% in the fourth quarter. Lido Advisors LLC now owns 17,707 shares of the company’s stock valued at $1,358,000 after purchasing an additional 622 shares during the last quarter. Northern Trust Corp lifted 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 worth $281,573,000 after buying an additional 531,060 shares in the last quarter. Finally, Bellwether Advisors LLC boosted its stake in McCormick & Company, Incorporated by 17.6% during the fourth quarter. Bellwether Advisors LLC now owns 22,247 shares of the company’s stock worth $1,696,000 after buying an additional 3,328 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

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.