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

McCormick & Company, Incorporated (NYSE:MKC) major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $67.43, for a total transaction of $3,371,500.00. Following the transaction, the insider owned 246,762 shares in the company, valued at approximately $16,639,161.66. The trade was a 16.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Lawrence Erik Kurzius also recently made the following trade(s):

• On Tuesday, November 11th, Lawrence Erik Kurzius sold 39,014 shares of McCormick & Company, Incorporated stock. The shares were sold at an average price of $64.54, for a total transaction of $2,517,963.56.

McCormick & Company, Incorporated Stock Up 0.2%

MKC stock opened at $68.71 on Friday. McCormick & Company, Incorporated has a twelve month low of $62.64 and a twelve month high of $86.24. The company has a market cap of $18.44 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 4.11 and a beta of 0.62. The business’s 50-day simple moving average is $66.77 and its 200 day simple moving average is $68.27. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, December 29th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, December 29th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s payout ratio is 66.44%.

Analyst Ratings Changes

Several research analysts recently commented on MKC shares. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. JPMorgan Chase & Co. dropped their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. UBS Group decreased their target price on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Monday, December 15th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.63.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Large investors have recently made changes to their positions in the company. Bank of Jackson Hole Trust acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $25,000. Elevation Point Wealth Partners LLC bought a new stake in McCormick & Company, Incorporated during the second quarter worth about $27,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth approximately $28,000. GoalVest Advisory LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $28,000. Finally, Curio Wealth LLC raised its stake in shares of McCormick & Company, Incorporated by 39,900.0% in the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock valued at $30,000 after acquiring an additional 399 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.