Katherine Jenkins Sells 7,642 Shares of McCormick & Company, Incorporated (NYSE:MKC) Stock

McCormick & Company, Incorporated (NYSE:MKC) insider Katherine Jenkins sold 7,642 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $73.65 on Thursday. The company has a 50-day moving average price of $77.58 and a 200-day moving average price of $77.53. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. 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 $19.75 billion, a P/E ratio of 25.14, a PEG ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last announced 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). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.44%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MKC shares. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. JPMorgan Chase & Co. lifted 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 note on Friday, January 24th. Finally, Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.14.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of institutional investors have recently bought and sold shares of MKC. Savvy Advisors Inc. bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $466,000. Somerville Kurt F lifted its holdings in McCormick & Company, Incorporated by 34.2% during the fourth quarter. Somerville Kurt F now owns 96,074 shares of the company’s stock valued at $7,325,000 after purchasing an additional 24,467 shares in the last quarter. DJE Kapital AG bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth approximately $4,228,000. SBI Securities Co. Ltd. purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $234,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of McCormick & Company, Incorporated by 16.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock worth $10,547,000 after purchasing an additional 19,491 shares in the last quarter. 79.74% of the stock is owned by 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.