McCormick & Company, Target of Unusually Large Options Trading (MKC)
McCormick & Company, Incorporated (NYSE:MKC) was the target of some unusual options trading on Friday. Stock traders purchased 1,060 call options on the stock. This represents an increase of Infinity compared to the average daily volume of 0 call options.
MKC has been the subject of a number of recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $110.00 target price on shares of McCormick & Company, in a research report on Thursday, August 31st. BidaskClub upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research report on Monday, October 2nd. Credit Suisse Group upped their target price on McCormick & Company, from $108.00 to $112.00 and gave the company an “outperform” rating in a research report on Monday, September 18th. Finally, Citigroup Inc. upped their target price on McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Monday, October 2nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $106.00.
McCormick & Company, (MKC) opened at $99.33 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.47 and a debt-to-equity ratio of 1.86. McCormick & Company, has a fifty-two week low of $88.64 and a fifty-two week high of $106.50. The company has a market capitalization of $13,011.93, a price-to-earnings ratio of 25.02, a PEG ratio of 2.51 and a beta of 0.53.
McCormick & Company, (NYSE:MKC) last posted its quarterly earnings results on Thursday, September 28th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. McCormick & Company, had a return on equity of 26.09% and a net margin of 10.05%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. McCormick & Company,’s revenue was up 8.6% on a year-over-year basis. research analysts expect that McCormick & Company, will post 4.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th were issued a dividend of $0.47 per share. The ex-dividend date was Friday, October 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.89%. McCormick & Company,’s dividend payout ratio (DPR) is currently 51.93%.
In related news, VP Michael R. Smith sold 5,500 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $102.60, for a total value of $564,300.00. Following the completion of the sale, the vice president now directly owns 19,248 shares in the company, valued at approximately $1,974,844.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Freeman A. Hrabowski III sold 3,000 shares of the business’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $98.68, for a total value of $296,040.00. The disclosure for this sale can be found here. Insiders sold a total of 16,000 shares of company stock valued at $1,598,490 over the last 90 days. 15.30% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MKC. Amundi Pioneer Asset Management Inc. increased its holdings in McCormick & Company, by 81.9% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock worth $167,208,000 after purchasing an additional 733,375 shares in the last quarter. Harbour Capital Advisors LLC increased its holdings in McCormick & Company, by 22,166.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 722,549 shares of the company’s stock worth $7,410,000 after purchasing an additional 719,304 shares in the last quarter. Darrell & King LLC acquired a new position in McCormick & Company, in the 3rd quarter worth about $34,615,000. Koch Industries Inc. acquired a new position in McCormick & Company, in the 2nd quarter worth about $306,000. Finally, Vanguard Group Inc. increased its holdings in McCormick & Company, by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 12,264,131 shares of the company’s stock worth $1,195,875,000 after purchasing an additional 301,377 shares in the last quarter. 71.19% of the stock is owned by institutional investors and hedge funds.
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McCormick & Company, Company Profile
McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.
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