McCormick & Company, Incorporated (NYSE:MKC) Director Sells $497,500.00 in Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $99.50, for a total transaction of $497,500.00. Following the completion of the sale, the director now directly owns 18,825 shares of the company’s stock, valued at $1,873,087.50. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at $96.92 on Friday. McCormick & Company, Incorporated has a 12-month low of $88.64 and a 12-month high of $106.50. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.95 and a quick ratio of 0.47. The company has a market cap of $12,696.23, a PE ratio of 24.41, a PEG ratio of 2.45 and a beta of 0.53.

McCormick & Company, (NYSE:MKC) last issued its quarterly earnings results on Thursday, September 28th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.07. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company posted $1.03 EPS. McCormick & Company,’s revenue was up 8.6% on a year-over-year basis. research analysts predict that McCormick & Company, Incorporated will post 4.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Shareholders of record on Tuesday, October 10th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.88 dividend on an annualized basis and a yield of 1.94%. McCormick & Company,’s dividend payout ratio is currently 51.93%.

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Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP bought a new stake in shares of McCormick & Company, in the first quarter worth approximately $7,852,000. Teachers Advisors LLC lifted its holdings in McCormick & Company, by 2.6% during the first quarter. Teachers Advisors LLC now owns 141,878 shares of the company’s stock valued at $13,840,000 after purchasing an additional 3,616 shares in the last quarter. Thrivent Financial For Lutherans lifted its holdings in McCormick & Company, by 7.1% during the first quarter. Thrivent Financial For Lutherans now owns 4,677 shares of the company’s stock valued at $453,000 after purchasing an additional 310 shares in the last quarter. HighTower Advisors LLC lifted its holdings in McCormick & Company, by 0.8% during the first quarter. HighTower Advisors LLC now owns 43,404 shares of the company’s stock valued at $4,239,000 after purchasing an additional 360 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new position in shares of McCormick & Company, in the first quarter worth $317,000. Institutional investors and hedge funds own 70.14% of the company’s stock.

MKC has been the topic of a number of recent research reports. Credit Suisse Group upped their price target on shares of McCormick & Company, from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Monday, September 18th. Zacks Investment Research cut shares of McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Jefferies Group LLC reiterated a “buy” rating and issued a $110.00 target price on shares of McCormick & Company, in a research note on Thursday, August 31st. Citigroup Inc. increased their target price on shares of McCormick & Company, from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Finally, BidaskClub upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $106.00.

McCormick & Company, Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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