Tue. Aug 9th, 2022
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McCormick & Company, Incorporated (NYSE:MKCGet Rating) Director Margaret M. V. Preston sold 10,580 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total transaction of $893,375.20. Following the transaction, the director now directly owns 12,660 shares in the company, valued at $1,069,010.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of MKC opened at $82.67 on Friday. The stock has a market capitalization of $22.16 billion, a P/E ratio of 29.84, a PEG ratio of 4.58 and a beta of 0.45. McCormick & Company, Incorporated has a twelve month low of $77.85 and a twelve month high of $107.35. The company has a quick ratio of 0.32, a current ratio of 0.73 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $91.97 and a two-hundred day simple moving average of $95.92.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.17). The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.77% and a return on equity of 18.00%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the company posted $0.69 earnings per share. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.15 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 25th. Shareholders of record on Monday, July 11th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Friday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 53.43%.

Several hedge funds have recently modified their holdings of the company. Western Pacific Wealth Management LP lifted its stake in McCormick & Company, Incorporated by 50.0% in the first quarter. Western Pacific Wealth Management LP now owns 300 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Smith Shellnut Wilson LLC ADV increased its position in shares of McCormick & Company, Incorporated by 2.3% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 4,606 shares of the company’s stock valued at $445,000 after buying an additional 102 shares during the period. ICW Investment Advisors LLC raised its stake in McCormick & Company, Incorporated by 0.5% in the first quarter. ICW Investment Advisors LLC now owns 19,203 shares of the company’s stock worth $1,916,000 after buying an additional 103 shares in the last quarter. B. Riley Wealth Management Inc. lifted its holdings in McCormick & Company, Incorporated by 3.6% in the first quarter. B. Riley Wealth Management Inc. now owns 3,257 shares of the company’s stock worth $325,000 after buying an additional 112 shares during the period. Finally, SVB Wealth LLC boosted its position in McCormick & Company, Incorporated by 3.0% during the 1st quarter. SVB Wealth LLC now owns 3,937 shares of the company’s stock valued at $393,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 74.86% of the company’s stock.

Several research firms recently commented on MKC. TheStreet lowered shares of McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a report on Wednesday, June 15th. StockNews.com began coverage on McCormick & Company, Incorporated in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on McCormick & Company, Incorporated from $91.00 to $85.00 and set a “hold” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $99.00.

McCormick & Company, Incorporated Company Profile (Get Rating)

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.

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Insider Buying and Selling by Quarter for McCormick & Company, Incorporated (NYSE:MKC)



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