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 firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.00, for a total value of $395,000.00. Following the transaction, the director now owns 40,436 shares in the company, valued at approximately $3,194,444. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $77.49 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a one year low of $63.67 and a one year high of $85.49. The company has a fifty day moving average price of $80.92 and a 200 day moving average price of $76.21. The stock has a market cap of $20.80 billion, a P/E ratio of 26.36, a PEG ratio of 3.50 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The business’s revenue was down .3% compared to the same quarter last year. Analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.17%. McCormick & Company, Incorporated’s dividend payout ratio is currently 57.14%.

Wall Street Analysts Forecast Growth

MKC has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. Bank of America upped their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen lifted their target price 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. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $79.57.

Institutional Trading of McCormick & Company, Incorporated

Several institutional investors have recently modified their holdings of the company. Norden Group LLC acquired a new stake in McCormick & Company, Incorporated during the first quarter worth $284,000. Nordea Investment Management AB boosted its position in shares of McCormick & Company, Incorporated by 4.7% during the 1st quarter. Nordea Investment Management AB now owns 17,617 shares of the company’s stock valued at $1,357,000 after acquiring an additional 786 shares in the last quarter. Empirical Finance LLC increased its stake in McCormick & Company, Incorporated by 3.6% in the first quarter. Empirical Finance LLC now owns 8,982 shares of the company’s stock valued at $690,000 after acquiring an additional 308 shares during the period. Empowered Funds LLC raised its position in McCormick & Company, Incorporated by 8.3% in the first quarter. Empowered Funds LLC now owns 27,011 shares of the company’s stock worth $2,075,000 after purchasing an additional 2,077 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in McCormick & Company, Incorporated by 333.8% during the first quarter. SG Americas Securities LLC now owns 70,977 shares of the company’s stock worth $5,452,000 after purchasing an additional 54,616 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

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.