11,910 Shares in McCormick & Company, Incorporated (NYSE:MKC) Purchased by Friedenthal Financial

Friedenthal Financial purchased a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,910 shares of the company's stock, valued at approximately $980,000.

Other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in shares of McCormick & Company, Incorporated by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 29,592 shares of the company's stock valued at $2,435,000 after acquiring an additional 840 shares during the last quarter. Puzo Michael J raised its holdings in shares of McCormick & Company, Incorporated by 13.6% during the first quarter. Puzo Michael J now owns 76,003 shares of the company's stock valued at $6,256,000 after acquiring an additional 9,096 shares during the last quarter. Broderick Brian C raised its holdings in shares of McCormick & Company, Incorporated by 11.8% during the first quarter. Broderick Brian C now owns 69,097 shares of the company's stock valued at $5,687,000 after acquiring an additional 7,320 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $213,000. Finally, Hemenway Trust Co LLC raised its holdings in shares of McCormick & Company, Incorporated by 13.6% during the first quarter. Hemenway Trust Co LLC now owns 244,088 shares of the company's stock valued at $20,091,000 after acquiring an additional 29,197 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock valued at $4,898,101 over the last quarter. Insiders own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research analyst reports. UBS Group initiated coverage on McCormick & Company, Incorporated in a report on Monday. They set a "neutral" rating and a $83.00 target price for the company. Citigroup reduced their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus price target of $84.13.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $73.15 on Thursday. The business's 50 day moving average is $74.44 and its two-hundred day moving average is $76.89. The stock has a market capitalization of $19.62 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 3.67 and a beta of 0.68. The company has a current ratio of 0.65, a quick ratio of 0.25 and a debt-to-equity ratio of 0.57. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.67%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.46%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.

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