McCormick & Company, Incorporated (NYSE:MKC) Insider Katherine Jenkins Sells 1,726 Shares

McCormick & Company, Incorporated (NYSE:MKC) insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $75.85 on Thursday. The company has a market capitalization of $20.36 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 3.83 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. The stock has a fifty day moving average of $71.22 and a 200-day moving average of $67.69. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the business posted $0.59 earnings per share. McCormick & Company, Incorporated’s revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MKC shares. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Citigroup raised their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday, March 27th. Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Finally, Consumer Edge lowered shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $77.88.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in McCormick & Company, Incorporated by 64.6% in the 3rd quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock worth $8,216,000 after purchasing an additional 42,625 shares during the period. Cullen Investment Group LTD. acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $5,728,000. International Assets Investment Management LLC boosted its position in shares of McCormick & Company, Incorporated by 7,344.4% in the fourth quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock worth $7,946,000 after buying an additional 114,572 shares during the period. abrdn plc grew its holdings in shares of McCormick & Company, Incorporated by 19.1% during the fourth quarter. abrdn plc now owns 443,332 shares of the company’s stock valued at $30,333,000 after buying an additional 71,133 shares in the last quarter. Finally, Jacobs & Co. CA raised its position in McCormick & Company, Incorporated by 12.7% during the fourth quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock valued at $9,780,000 after buying an additional 16,098 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Company Profile

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.