McCormick & Company, Incorporated (MKC) Director Freeman A. Hrabowski III Sells 3,000 Shares of Stock

McCormick & Company, Incorporated (NYSE:MKC) Director Freeman A. Hrabowski III sold 3,000 shares of the company’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $98.68, for a total value of $296,040.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of McCormick & Company, Incorporated (NYSE:MKC) opened at 99.17 on Wednesday. The stock has a 50 day moving average price of $97.78 and a 200 day moving average price of $98.76. McCormick & Company, Incorporated has a 12-month low of $88.64 and a 12-month high of $106.50. The stock has a market capitalization of $12.36 billion, a P/E ratio of 26.34 and a beta of 0.53.

McCormick & Company, (NYSE:MKC) last posted its quarterly earnings results on Thursday, September 28th. The company reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.07. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. McCormick & Company, had a return on equity of 26.09% and a net margin of 10.05%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. On average, equities analysts anticipate that McCormick & Company, Incorporated will post $4.22 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Shareholders of record on Tuesday, October 10th will be paid a $0.47 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.88 dividend on an annualized basis and a yield of 1.90%. McCormick & Company,’s payout ratio is currently 51.93%.

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A number of hedge funds have recently modified their holdings of the business. Cleararc Capital Inc. boosted its stake in McCormick & Company, by 0.3% in the first quarter. Cleararc Capital Inc. now owns 2,797 shares of the company’s stock valued at $273,000 after acquiring an additional 9 shares during the period. Rowland & Co. Investment Counsel ADV boosted its stake in McCormick & Company, by 0.4% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 3,148 shares of the company’s stock valued at $308,000 after acquiring an additional 11 shares during the period. HM Capital Management LLC boosted its stake in McCormick & Company, by 0.5% in the second quarter. HM Capital Management LLC now owns 3,686 shares of the company’s stock valued at $359,000 after acquiring an additional 17 shares during the period. Ironwood Investment Management LLC boosted its stake in McCormick & Company, by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 3,628 shares of the company’s stock valued at $354,000 after acquiring an additional 25 shares during the period. Finally, OLD National Bancorp IN boosted its stake in McCormick & Company, by 0.9% in the second quarter. OLD National Bancorp IN now owns 4,377 shares of the company’s stock valued at $427,000 after acquiring an additional 37 shares during the period. Institutional investors own 69.36% of the company’s stock.

Several research analysts have recently issued reports on MKC shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $110.00 price objective on shares of McCormick & Company, in a research report on Thursday, August 31st. BidaskClub raised McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research raised McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research report on Monday, October 2nd. Credit Suisse Group boosted their target price on McCormick & Company, from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, September 18th. Finally, Citigroup Inc. boosted their target price on McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $105.50.

About McCormick & Company,

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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