Shares of McCormick & Co. (NYSE:MKC) dropped 1.1% on Tuesday . The company traded as low as $104.78 and last traded at $104.80, with a volume of 398,914 shares. The stock had previously closed at $105.94.

MKC has been the subject of a number of research reports. Vetr raised shares of McCormick & Co. from a “sell” rating to a “hold” rating and set a $96.84 price target for the company in a research report on Monday, March 21st. Sanford C. Bernstein upped their price target on shares of McCormick & Co. from $100.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 30th. Deutsche Bank AG upped their price target on shares of McCormick & Co. from $99.00 to $105.00 in a research report on Wednesday, March 30th. Citigroup Inc. upped their price target on shares of McCormick & Co. from $74.00 to $84.00 and gave the stock a “sell” rating in a research report on Wednesday, March 30th. Finally, Zacks Investment Research raised shares of McCormick & Co. from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research report on Monday, April 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. McCormick & Co. has an average rating of “Hold” and an average target price of $99.54.

The company has a market cap of $13.27 billion and a price-to-earnings ratio of 31.07. The company has a 50-day moving average of $100.96 and a 200 day moving average of $94.26.

McCormick & Co. (NYSE:MKC) last announced its earnings results on Thursday, June 30th. The company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. During the same period in the previous year, the company posted $0.75 earnings per share. The company earned $1.06 billion during the quarter. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that McCormick & Co. will post $3.75 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 25th. Shareholders of record on Monday, July 11th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, July 7th.

In other McCormick & Co. news, CFO Gordon Mckenzie Stetz, Jr. sold 37,000 shares of the business’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $95.03, for a total value of $3,516,110.00. Following the completion of the transaction, the chief financial officer now directly owns 64,724 shares of the company’s stock, valued at $6,150,721.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Malcolm Swift sold 26,950 shares of the business’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $95.01, for a total transaction of $2,560,519.50. Following the completion of the transaction, the insider now directly owns 8,445 shares of the company’s stock, valued at $802,359.45. The disclosure for this sale can be found here.

Several institutional investors recently made changes to their positions in the company. Buckingham Capital Management Inc. increased its position in shares of McCormick & Co. by 11.6% in the third quarter. Buckingham Capital Management Inc. now owns 17,191 shares of the company’s stock worth $1,413,000 after buying an additional 1,784 shares in the last quarter. I.G. Investment Management LTD. increased its position in shares of McCormick & Co. by 27.9% in the fourth quarter. I.G. Investment Management LTD. now owns 64,350 shares of the company’s stock worth $5,506,000 after buying an additional 14,050 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of McCormick & Co. by 183.5% in the fourth quarter. Advisors Asset Management Inc. now owns 24,321 shares of the company’s stock worth $2,081,000 after buying an additional 15,743 shares in the last quarter. Parsons Capital Management Inc. RI increased its position in shares of McCormick & Co. by 0.4% in the fourth quarter. Parsons Capital Management Inc. RI now owns 19,055 shares of the company’s stock worth $1,630,000 after buying an additional 75 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of McCormick & Co. by 8.1% in the fourth quarter. Victory Capital Management Inc. now owns 539,042 shares of the company’s stock worth $46,121,000 after buying an additional 40,391 shares in the last quarter.

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company operates in two segments: consumer and industrial. Its brands in the Americas include McCormick, Lawry’s, Stubb’s, Club House, Zatarain’s, Thai Kitchen and Simply Asia.

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