Insider Sale: McCormick & Company, Incorporated (NYSE: MKC) Director Sells 10,580 Shares
McCormick & Company, Incorporated (NYSE: MKC – Get a rating) Director Margaret MV Preston sold 10,580 shares of the company in a trade that took place on Wednesday June 29. The shares were sold at an average price of $84.44, for a total transaction of $893,375.20. As a result of the transaction, the administrator now directly owns 12,660 shares of the company, valued at approximately $1,069,010.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link.
MKC lost $0.66 in Friday’s midday session, hitting $82.59. The company’s stock had a trading volume of 44,814 shares, compared to its average volume of 1,432,525. The stock’s 50-day moving average is $92.36 and its 200-day moving average is from $95.96. The company has a market capitalization of $22.14 billion, a price/earnings ratio of 30.05, a PEG ratio of 4.58 and a beta of 0.45. McCormick & Company, Incorporated has a 1-year low of $77.85 and a 1-year high of $107.35. The company has a current ratio of 0.73, a quick ratio of 0.32 and a debt ratio of 0.86.
McCormick & Company, Incorporated (NYSE: MKC – Get a rating) last released its quarterly earnings data on Wednesday, June 29. The company reported earnings per share (EPS) of $0.48 for the quarter, missing analyst consensus estimates of $0.65 per ($0.17). McCormick & Company, Incorporated achieved a net margin of 11.77% and a return on equity of 18.00%. The company posted revenue of $1.54 billion for the quarter, versus $1.61 billion for analysts. In the same quarter last year, the company earned earnings per share of $0.69. The company’s revenue for the quarter was down 1.3% year over year. As a group, equity research analysts expect McCormick & Company, Incorporated to post earnings per share of 3.15 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 25. Investors of record on Monday, July 11 will receive a dividend of $0.37. This represents an annualized dividend of $1.48 and a yield of 1.79%. The ex-date of this dividend is Friday, July 8. McCormick & Company, Incorporated’s dividend payout ratio is currently 53.43%.
A number of stock analysts have released reports on MKC shares. TheStreet upgraded shares of McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a Wednesday, June 15 research note. Deutsche Bank Aktiengesellschaft lowered its price target on McCormick & Company, Incorporated from $91.00 to $85.00 and set a “hold” rating for the company in a report released Thursday. To finish, StockNews.com assumed coverage of McCormick & Company, Incorporated in a Thursday, March 31 research note. They issued a “hold” rating on the stock. Four equity research analysts gave the stock a hold rating and one gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $96.50.
Major investors have recently been buying and selling shares of the company. Tcwp LLC acquired a new stake in McCormick & Company, Incorporated during Q1 valued at approximately $28,000. First National Bank of South Miami increased its holdings of McCormick & Company, Incorporated stock by 843.8% during the fourth quarter. First National Bank of South Miami now owns 302 shares of the company worth $29,000 after buying 270 more shares in the last quarter. Confluence Wealth Services Inc. acquired a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $29,000. Western Pacific Wealth Management LP increased its position in shares of McCormick & Company, Incorporated by 50.0% in the first quarter. Western Pacific Wealth Management LP now owns 300 shares of the company worth $29,000 after purchasing an additional 100 shares during the period. Finally, Lumature Wealth Partners LLC increased its stake in McCormick & Company, Incorporated by 65.3% during the fourth quarter. Lumature Wealth Partners LLC now owns 324 shares of the company worth $31,000 after purchasing an additional 128 shares in the last quarter. Institutional investors hold 74.86% of the company’s shares.
McCormick & Company, Incorporated Corporate Profile (Get a rating)
McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning blends, 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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