McCormick & Company, Incorporated (NYSE:MKC) Short Interest Update

McCormick & Company, Incorporated (NYSE:MKCGet Rating) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 6,630,000 shares, an increase of 22.6% from the May 15th total of 5,410,000 shares. Based on an average trading volume of 1,210,000 shares, the short-interest ratio is presently 5.5 days.

In other McCormick & Company, Incorporated news, CFO Michael R. Smith sold 19,986 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $104.04, for a total transaction of $2,079,343.44. Following the completion of the transaction, the chief financial officer now owns 93,025 shares in the company, valued at $9,678,321. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 15.90% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Profit Investment Management LLC lifted its position in McCormick & Company, Incorporated by 15.6% during the fourth quarter. Profit Investment Management LLC now owns 12,375 shares of the company’s stock valued at $1,196,000 after buying an additional 1,669 shares in the last quarter. Bridge Creek Capital Management LLC lifted its position in McCormick & Company, Incorporated by 5.2% during the fourth quarter. Bridge Creek Capital Management LLC now owns 64,289 shares of the company’s stock valued at $6,211,000 after buying an additional 3,179 shares in the last quarter. West Family Investments Inc. acquired a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $481,000. Twin Tree Management LP lifted its position in McCormick & Company, Incorporated by 258.2% during the fourth quarter. Twin Tree Management LP now owns 71,564 shares of the company’s stock valued at $6,914,000 after buying an additional 51,583 shares in the last quarter. Finally, Capricorn Fund Managers Ltd acquired a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $2,088,000. Hedge funds and other institutional investors own 74.86% of the company’s stock.

McCormick & Company, Incorporated stock traded down $0.67 during trading on Friday, reaching $82.19. The company had a trading volume of 8,508 shares, compared to its average volume of 1,279,399. McCormick & Company, Incorporated has a 12-month low of $77.85 and a 12-month high of $107.35. The stock’s 50 day moving average price is $95.81 and its two-hundred day moving average price is $96.22. The firm has a market capitalization of $22.03 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 4.33 and a beta of 0.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.32 and a current ratio of 0.73.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last released its earnings results on Tuesday, March 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. McCormick & Company, Incorporated had a net margin of 11.77% and a return on equity of 18.00%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. McCormick & Company, Incorporated’s revenue was up 2.8% compared to the same quarter last year. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 25th. Investors of record on Monday, April 11th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, April 8th. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. McCormick & Company, Incorporated’s payout ratio is 53.43%.

A number of equities research analysts have recently commented on MKC shares. StockNews.com started coverage on shares of McCormick & Company, Incorporated in a report on Thursday, March 31st. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of McCormick & Company, Incorporated from $96.00 to $99.00 in a report on Wednesday, March 30th. TheStreet downgraded shares of McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a report on Wednesday. Finally, Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a report on Thursday, February 17th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $100.00.

About McCormick & Company, Incorporated (Get Rating)

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.

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