McCormick & Company, Incorporated (NYSE:MKC) Insider Sells $128,328.10 in Stock

McCormick & Company, Incorporated (NYSE:MKC) insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

McCormick & Company, Incorporated Price Performance

MKC opened at $75.56 on Friday. The stock has a 50-day moving average price of $71.42 and a 200-day moving average price of $67.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. The firm has a market cap of $20.28 billion, a PE ratio of 28.84, a P/E/G ratio of 3.85 and a beta of 0.74. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. McCormick & Company, Incorporated’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. Sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 64.12%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of hedge funds have recently bought and sold shares of MKC. Legacy Financial Group LLC purchased a new position in McCormick & Company, Incorporated in the 3rd quarter worth about $29,000. Anchor Investment Management LLC purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth about $36,000. VisionPoint Advisory Group LLC purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth about $44,000. Milestone Investment Advisors LLC purchased a new position in McCormick & Company, Incorporated in the 3rd quarter worth about $47,000. Finally, Valley National Advisers Inc. increased its position in shares of McCormick & Company, Incorporated by 283.9% during the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after purchasing an additional 582 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 analysts recently weighed in on the stock. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. JPMorgan Chase & Co. dropped their target price on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, April 2nd. Stifel Nicolaus boosted their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. Finally, Barclays boosted their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $77.88.

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.