McCormick & Company, Incorporated (NYSE:MKC) Director Lawrence Erik Kurzius Sells 50,000 Shares of Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $81.34 on Thursday. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The stock’s 50 day moving average is $79.76 and its 200-day moving average is $78.81. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $21.81 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. Sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.86%.

Analyst Upgrades and Downgrades

MKC has been the subject of several analyst reports. Barclays lowered their target price on 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. JPMorgan Chase & Co. upped their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.14.

Institutional Trading of McCormick & Company, Incorporated

Several institutional investors and hedge funds have recently modified their holdings of the stock. Curio Wealth LLC purchased a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $30,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Twin Tree Management LP purchased a new position in McCormick & Company, Incorporated during the 4th quarter worth $33,000. Ameriflex Group Inc. purchased a new position in McCormick & Company, Incorporated during the 4th quarter worth $33,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $37,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

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.