Lawrence Erik Kurzius Sells 80,000 Shares of McCormick & Company, Incorporated (NYSE:MKC) Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the completion of the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,695,277.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

McCormick & Company, Incorporated Stock Down 2.0 %

Shares of NYSE:MKC opened at $72.15 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $74.17 and a two-hundred day simple moving average of $69.48. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39. The stock has a market capitalization of $19.37 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.80 and a beta of 0.73.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.33%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Analyst Ratings Changes

A number of brokerages recently commented on MKC. Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, April 2nd. Citigroup lifted their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. Barclays increased their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $77.88.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC raised its holdings in McCormick & Company, Incorporated by 16.5% in the 1st quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after acquiring an additional 134 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of McCormick & Company, Incorporated by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 27,267 shares of the company’s stock valued at $2,094,000 after purchasing an additional 135 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its position in shares of McCormick & Company, Incorporated by 1.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 15,536 shares of the company’s stock valued at $1,193,000 after buying an additional 156 shares during the last quarter. KFG Wealth Management LLC increased its holdings in McCormick & Company, Incorporated by 3.1% in the 4th quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock worth $358,000 after buying an additional 158 shares in the last quarter. Finally, Beaumont Financial Advisors LLC raised its position in McCormick & Company, Incorporated by 4.5% in the 4th quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock worth $252,000 after buying an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

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.