McCormick & Company, Incorporated (NYSE:MKC – Get Free Report)’s share price hit a new 52-week low on Monday . The company traded as low as $47.26 and last traded at $47.2460, with a volume of 703312 shares. The stock had previously closed at $48.32.
Wall Street Analysts Forecast Growth
Several research firms have commented on MKC. BNP Paribas Exane cut their price objective on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. BTIG Research began coverage on McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They issued a “neutral” rating for the company. Barclays dropped their target price on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. TD Cowen reduced their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, Jefferies Financial Group decreased their price target on McCormick & Company, Incorporated from $81.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $64.27.
View Our Latest Research Report on McCormick & Company, Incorporated
McCormick & Company, Incorporated Price Performance
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.
McCormick & Company, Incorporated Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a yield of 4.1%. McCormick & Company, Incorporated’s dividend payout ratio is currently 31.48%.
Insider Buying and Selling
In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $71.63, for a total value of $3,581,500.00. Following the transaction, the insider directly owned 296,992 shares of the company’s stock, valued at $21,273,536.96. This represents a 14.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gavin Hattersley bought 2,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, April 10th. The shares were acquired at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the purchase, the director owned 2,906 shares in the company, valued at approximately $153,959.88. The trade was a 220.75% increase in their position. The disclosure for this purchase is available in the SEC filing. 10.60% of the stock is owned by company insiders.
Institutional Trading of McCormick & Company, Incorporated
Hedge funds and other institutional investors have recently made changes to their positions in the stock. GoalVest Advisory LLC bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at $28,000. Deseret Mutual Benefit Administrators increased its position in shares of McCormick & Company, Incorporated by 67.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after purchasing an additional 164 shares during the last quarter. Motiv8 Investments LLC bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $28,000. Zions Bancorporation National Association UT raised its stake in shares of McCormick & Company, Incorporated by 340.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after purchasing an additional 357 shares in the last quarter. Finally, SouthState Bank Corp raised its stake in shares of McCormick & Company, Incorporated by 1,777.8% in the 3rd quarter. SouthState Bank Corp now owns 507 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.
McCormick & Company, Incorporated Company Profile
McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.
McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.
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