McCormick & Company, Incorporated (NYSE:MKC) CEO Lawrence Erik Kurzius Sells 39,906 Shares

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) CEO Lawrence Erik Kurzius sold 39,906 shares of McCormick & Company, Incorporated stock in a transaction on Friday, May 12th. The stock was sold at an average price of $90.02, for a total value of $3,592,338.12. Following the completion of the transaction, the chief executive officer now owns 159,579 shares in the company, valued at $14,365,301.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

McCormick & Company, Incorporated Price Performance

MKC opened at $89.70 on Wednesday. The stock has a market cap of $24.06 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 5.00 and a beta of 0.58. McCormick & Company, Incorporated has a 1 year low of $70.60 and a 1 year high of $101.03. The company has a current ratio of 0.73, a quick ratio of 0.32 and a debt-to-equity ratio of 0.74. The stock has a fifty day moving average price of $82.45 and a 200 day moving average price of $81.01.

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last released its quarterly earnings data on Tuesday, March 28th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.10. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.54 billion. McCormick & Company, Incorporated had a return on equity of 14.34% and a net margin of 10.42%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. Analysts forecast that McCormick & Company, Incorporated will post 2.61 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 24th. Investors of record on Monday, April 10th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, April 6th. This represents a $1.56 dividend on an annualized basis and a yield of 1.74%. McCormick & Company, Incorporated’s payout ratio is 63.16%.

Institutional Trading of McCormick & Company, Incorporated

A number of institutional investors have recently bought and sold shares of MKC. Moneta Group Investment Advisors LLC lifted its position in shares of McCormick & Company, Incorporated by 92,736.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,770,708 shares of the company’s stock worth $478,334,000 after buying an additional 5,764,492 shares during the last quarter. Norges Bank acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth about $148,700,000. Massachusetts Financial Services Co. MA lifted its position in shares of McCormick & Company, Incorporated by 27.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,377,729 shares of the company’s stock worth $240,730,000 after buying an additional 737,040 shares during the last quarter. State Street Corp lifted its position in shares of McCormick & Company, Incorporated by 4.3% in the third quarter. State Street Corp now owns 13,756,198 shares of the company’s stock worth $980,404,000 after buying an additional 564,889 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of McCormick & Company, Incorporated by 1.6% in the first quarter. Vanguard Group Inc. now owns 28,955,774 shares of the company’s stock worth $2,889,787,000 after buying an additional 462,997 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of recent research reports. StockNews.com initiated coverage on McCormick & Company, Incorporated in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on McCormick & Company, Incorporated from $69.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 29th. JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $63.00 to $66.00 and gave the company an “underweight” rating in a report on Wednesday, March 29th. UBS Group began coverage on McCormick & Company, Incorporated in a report on Friday, March 10th. They set a “sell” rating and a $71.00 price target on the stock. Finally, Stifel Nicolaus began coverage on McCormick & Company, Incorporated in a report on Thursday, April 13th. They set a “hold” rating and a $82.00 price target on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $80.10.

McCormick & Company, Incorporated Company Profile

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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.