Michael R. Smith Sells 7,200 Shares of MCCORMICK & CO /SH NV (MKC) Stock

MCCORMICK & CO /SH NV (NYSE:MKC) VP Michael R. Smith sold 7,200 shares of the business’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $142.59, for a total transaction of $1,026,648.00. Following the sale, the vice president now owns 23,959 shares in the company, valued at $3,416,313.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of MKC stock traded down $1.18 during trading hours on Wednesday, reaching $143.57. 583,378 shares of the stock were exchanged, compared to its average volume of 1,045,291. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.36 and a current ratio of 0.79. MCCORMICK & CO /SH NV has a 12-month low of $93.70 and a 12-month high of $145.04. The firm has a market capitalization of $18.22 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 3.12 and a beta of 0.57.

MCCORMICK & CO /SH (NYSE:MKC) last released its earnings results on Thursday, September 27th. The company reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.01. MCCORMICK & CO /SH had a net margin of 16.57% and a return on equity of 21.83%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm earned $1.12 earnings per share. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities analysts forecast that MCCORMICK & CO /SH NV will post 4.99 EPS for the current fiscal year.



The company also recently announced a quarterly dividend, which was paid on Tuesday, October 23rd. Investors of record on Tuesday, October 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 5th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.45%. MCCORMICK & CO /SH’s payout ratio is 48.83%.

Several hedge funds have recently added to or reduced their stakes in the stock. Putnam Investments LLC increased its stake in shares of MCCORMICK & CO /SH by 23.6% during the second quarter. Putnam Investments LLC now owns 2,567,422 shares of the company’s stock worth $298,052,000 after buying an additional 489,488 shares during the period. Bank of New York Mellon Corp increased its stake in shares of MCCORMICK & CO /SH by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 1,087,752 shares of the company’s stock worth $126,277,000 after buying an additional 18,392 shares during the period. FMR LLC increased its stake in shares of MCCORMICK & CO /SH by 89.1% during the second quarter. FMR LLC now owns 916,815 shares of the company’s stock worth $106,433,000 after buying an additional 431,896 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of MCCORMICK & CO /SH by 11.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 627,267 shares of the company’s stock worth $82,644,000 after buying an additional 64,494 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of MCCORMICK & CO /SH by 14.2% during the second quarter. Jennison Associates LLC now owns 525,567 shares of the company’s stock worth $61,013,000 after buying an additional 65,165 shares during the period. Hedge funds and other institutional investors own 80.54% of the company’s stock.

MKC has been the topic of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of MCCORMICK & CO /SH from $117.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, September 28th. Zacks Investment Research upgraded shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Credit Suisse Group set a $137.00 price target on shares of MCCORMICK & CO /SH and gave the stock a “buy” rating in a research note on Friday, September 28th. Jefferies Financial Group set a $135.00 price target on shares of MCCORMICK & CO /SH and gave the stock a “buy” rating in a research note on Thursday, September 27th. Finally, UBS Group set a $130.00 price target on shares of MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, September 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. MCCORMICK & CO /SH currently has an average rating of “Hold” and a consensus target price of $124.44.

MCCORMICK & CO /SH Company Profile

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

Featured Story: What is Considered a Good Return on Equity (ROE)?

Insider Buying and Selling by Quarter for MCCORMICK & CO /SH (NYSE:MKC)

Receive News & Ratings for MCCORMICK & CO /SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MCCORMICK & CO /SH and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply