Michael D. Mangan Sells 5,000 Shares of McCormick & Company, Incorporated (MKC) Stock

Michael D. Mangan Sells 5,000 Shares of McCormick & Company, Incorporated (MKC) Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $95.09, for a total transaction of $475,450.00. Following the transaction, the director now owns 16,555 shares in the company, valued at approximately $1,574,214.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

McCormick & Company, Incorporated (NYSE:MKC) opened at 95.86 on Monday. McCormick & Company, Incorporated has a 12 month low of $85.10 and a 12 month high of $107.84. The stock’s 50 day moving average price is $93.18 and its 200-day moving average price is $96.02. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 25.98 and a beta of 0.48.

McCormick & Company, (NYSE:MKC) last issued its earnings results on Wednesday, January 25th. The company reported $1.27 earnings per share for the quarter, hitting the consensus estimate of $1.27. McCormick & Company, had a return on equity of 27.97% and a net margin of 10.71%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the company earned $1.18 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that McCormick & Company, Incorporated will post $4.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Wednesday, December 28th. This is a positive change from McCormick & Company,’s previous quarterly dividend of $0.43. McCormick & Company,’s dividend payout ratio (DPR) is 50.81%.

Several equities analysts have recently issued reports on MKC shares. Jefferies Group LLC cut their price objective on shares of McCormick & Company, from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, November 30th. Barclays PLC reiterated a “hold” rating and issued a $101.00 target price on shares of McCormick & Company, in a research report on Friday, January 27th. Zacks Investment Research lowered McCormick & Company, from a “hold” rating to a “sell” rating in a research report on Tuesday, December 6th. Credit Suisse Group upgraded McCormick & Company, from a “neutral” rating to an “outperform” rating and set a $111.00 target price on the stock in a research report on Tuesday, October 25th. Finally, Bank of America Corporation started coverage on McCormick & Company, in a research report on Tuesday, December 6th. They issued a “buy” rating and a $100.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $102.32.

Large investors have recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its stake in shares of McCormick & Company, by 19.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,482,009 shares of the company’s stock valued at $447,842,000 after buying an additional 722,002 shares during the period. BlackRock Fund Advisors raised its position in McCormick & Company, by 2.4% in the third quarter. BlackRock Fund Advisors now owns 3,112,098 shares of the company’s stock valued at $310,961,000 after buying an additional 74,306 shares during the period. Parnassus Investments CA raised its position in McCormick & Company, by 13.4% in the third quarter. Parnassus Investments CA now owns 2,127,234 shares of the company’s stock valued at $212,553,000 after buying an additional 251,455 shares during the period. BlackRock Group LTD raised its position in McCormick & Company, by 12.6% in the third quarter. BlackRock Group LTD now owns 1,819,881 shares of the company’s stock valued at $181,842,000 after buying an additional 203,065 shares during the period. Finally, Janus Capital Management LLC raised its position in McCormick & Company, by 16.4% in the second quarter. Janus Capital Management LLC now owns 1,581,927 shares of the company’s stock valued at $168,744,000 after buying an additional 222,568 shares during the period. 72.83% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Company Profile

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company operates in two segments: consumer and industrial. Its brands in the Americas include McCormick, Lawry’s, Stubb’s, Club House, Zatarain’s, Thai Kitchen and Simply Asia.

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