McCormick & Company, Incorporated (NYSE:MKC) VP Gregory Repas Sells 2,750 Shares of Stock

McCormick & Company, Incorporated (NYSE:MKC) VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $76.36 on Friday. The stock has a market capitalization of $20.48 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The stock’s 50 day moving average price is $79.91 and its two-hundred day moving average price is $78.76.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 earnings per share. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.36%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.86%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $30,000. Albion Financial Group UT acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Twin Tree Management LP acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Ameriflex Group Inc. bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Finally, Lee Danner & Bass Inc. acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $37,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MKC. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $83.14.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.