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

McCormick & Company, Incorporated (NYSE:MKC) insider Katherine Jenkins sold 7,642 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

McCormick & Company, Incorporated Trading Down 2.1%

NYSE MKC opened at $74.87 on Wednesday. The stock’s 50-day simple moving average is $77.76 and its two-hundred day simple moving average is $77.55. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month 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 company has a market capitalization of $20.08 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.86%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in McCormick & Company, Incorporated by 0.4% during the first quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company’s stock valued at $2,623,552,000 after buying an additional 136,729 shares during the period. Geode Capital Management LLC boosted its position in McCormick & Company, Incorporated by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company’s stock valued at $458,114,000 after buying an additional 137,679 shares during the period. Northern Trust Corp boosted its position in McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock valued at $281,573,000 after buying an additional 531,060 shares during the period. Voya Investment Management LLC boosted its position in McCormick & Company, Incorporated by 10.2% during the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company’s stock valued at $269,060,000 after buying an additional 326,041 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its position in McCormick & Company, Incorporated by 6.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company’s stock valued at $245,114,000 after buying an additional 190,856 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on MKC shares. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. boosted their target price on 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 analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.14.

McCormick & Company, Incorporated Company Profile

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.