Gavin Hattersley Buys 2,000 Shares of McCormick & Company, Incorporated (NYSE:MKC) Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Gavin Hattersley purchased 2,000 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was acquired at an average cost of $52.98 per share, with a total value of $105,960.00. Following the transaction, the director directly owned 2,906 shares in the company, valued at $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $53.86 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 52 week low of $47.52 and a 52 week high of $78.16. The stock has a market capitalization of $14.47 billion, a PE ratio of 8.83, a P/E/G ratio of 2.65 and a beta of 0.71. The firm has a 50 day moving average of $60.79 and a two-hundred day moving average of $64.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the company posted $0.60 EPS. The firm’s revenue was up 16.7% compared to the same quarter last year. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Monday, April 20th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 31.48%.

Analyst Ratings Changes

MKC has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. HSBC decreased their price target on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. TD Cowen decreased their price target on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Stifel Nicolaus decreased their price target on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Finally, UBS Group decreased their price objective on shares of McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.27.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several institutional investors have recently modified their holdings of MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of McCormick & Company, Incorporated by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock worth $2,854,000 after purchasing an additional 925 shares during the last quarter. Empowered Funds LLC lifted its position in shares of McCormick & Company, Incorporated by 19.0% during the 1st quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock worth $486,000 after purchasing an additional 941 shares during the last quarter. Woodline Partners LP lifted its position in shares of McCormick & Company, Incorporated by 40.9% during the 1st quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock worth $1,756,000 after purchasing an additional 6,189 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $6,520,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of McCormick & Company, Incorporated by 6.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock worth $2,873,000 after purchasing an additional 2,176 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

About McCormick & Company, Incorporated

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.