Michael D. Mangan Sells 5,000 Shares of McCormick & Company, Incorporated (NYSE:MKC) Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

McCormick & Company, Incorporated Stock Up 0.8 %

Shares of McCormick & Company, Incorporated stock opened at $78.83 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 3.60 and a beta of 0.77. The firm’s 50-day moving average is $81.08 and its two-hundred day moving average is $76.19. McCormick & Company, Incorporated has a 1 year low of $63.67 and a 1 year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.65 earnings per share. As a group, research analysts expect that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, October 7th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 57.14%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several institutional investors and hedge funds have recently added to or reduced their stakes in MKC. State Board of Administration of Florida Retirement System grew its position in shares of McCormick & Company, Incorporated by 2.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock worth $23,165,000 after buying an additional 7,898 shares during the last quarter. Cetera Investment Advisers increased its position in shares of McCormick & Company, Incorporated by 470.6% during the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock worth $2,916,000 after purchasing an additional 31,306 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of McCormick & Company, Incorporated by 333.8% during the 1st quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock valued at $5,452,000 after purchasing an additional 54,616 shares during the last quarter. Sei Investments Co. boosted its position in shares of McCormick & Company, Incorporated by 11.8% in the 1st quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock worth $11,951,000 after purchasing an additional 16,420 shares in the last quarter. Finally, Boston Trust Walden Corp grew its stake in McCormick & Company, Incorporated by 1.1% during the 2nd quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after buying an additional 6,588 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MKC. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America upped their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen upped their price target on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $79.57.

McCormick & Company, Incorporated Company Profile

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.