Insider Selling: McCormick & Company, Incorporated (NYSE:MKC) Director Sells $386,700.00 in Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $77.34, for a total value of $386,700.00. Following the completion of the sale, the director now directly owns 28,217 shares in the company, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Jacques Tapiero also recently made the following trade(s):

• On Monday, November 4th, Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock. The stock was sold at an average price of $78.33, for a total value of $391,650.00.

McCormick & Company, Incorporated Stock Down 1.2 %

MKC opened at $74.92 on Friday. The stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 3.46 and a beta of 0.77. The firm has a 50 day moving average price of $80.64 and a 200-day moving average price of $76.24. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is 57.14%.

Analysts Set New Price Targets

A number of research firms have weighed in on MKC. TD Cowen raised their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Bank of America raised their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $79.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its position in shares of McCormick & Company, Incorporated by 2.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after purchasing an additional 7,898 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in McCormick & Company, Incorporated during the third quarter valued at approximately $20,227,000. Cetera Investment Advisers increased its holdings in McCormick & Company, Incorporated by 470.6% during the first quarter. Cetera Investment Advisers now owns 37,958 shares of the company’s stock valued at $2,916,000 after buying an additional 31,306 shares during the last quarter. Sei Investments Co. increased its holdings in McCormick & Company, Incorporated by 11.8% during the first quarter. Sei Investments Co. now owns 155,594 shares of the company’s stock valued at $11,951,000 after buying an additional 16,420 shares during the last quarter. Finally, Boston Trust Walden Corp raised its position in McCormick & Company, Incorporated by 1.1% in the second quarter. Boston Trust Walden Corp now owns 632,674 shares of the company’s stock worth $44,882,000 after acquiring an additional 6,588 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

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.