15,283 Shares in McCormick & Company, Incorporated (NYSE:MKC) Purchased by Econ Financial Services Corp

Econ Financial Services Corp acquired a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 15,283 shares of the company's stock, valued at approximately $1,258,000.

Other large investors also recently bought and sold shares of the company. Savvy Advisors Inc. bought a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $466,000. Somerville Kurt F increased its holdings in McCormick & Company, Incorporated by 34.2% in the 4th quarter. Somerville Kurt F now owns 96,074 shares of the company's stock worth $7,325,000 after buying an additional 24,467 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at about $260,000. DJE Kapital AG purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $4,228,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $234,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Down 0.3%

MKC stock opened at $74.64 on Wednesday. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a quick ratio of 0.25, a current ratio of 0.65 and a debt-to-equity ratio of 0.57. The stock has a market cap of $20.02 billion, a P/E ratio of 25.65, a PEG ratio of 3.77 and a beta of 0.68. The business's 50-day moving average price is $74.27 and its 200-day moving average price is $76.77.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data 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). McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. The company had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The firm's quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.41%. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Insider Activity

In related news, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares of the company's stock, valued at approximately $184,497.72. The trade was a 54.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,392 shares of company stock valued at $4,898,101 in the last ninety days. Corporate insiders own 23.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MKC shares. UBS Group started coverage on shares of McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price objective on the stock. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, Citigroup dropped their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of "Hold" and a consensus target price of $84.13.

About McCormick & Company, Incorporated

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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