Insider Buying: McCormick & Company, Incorporated (NYSE:MKC) Director Acquires 2,000 Shares of Stock

Key Points

• Director Gavin Hattersley purchased 2,000 shares at an average price of $52.98 (total $105,960), raising his holdings to 2,906 shares — a 220.75% increase in ownership.
• McCormick beat the quarter with $0.66 EPS vs. $0.61 expected and $1.87 billion in revenue vs. $1.79 billion, with revenue up 16.7% year‑over‑year.
• The company declared a quarterly dividend of $0.48 (3.5% yield, ex‑dividend April 20), while analysts have trimmed price targets and the consensus rating is "Hold" with an average target of $64.27.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) Director Gavin Hattersley purchased 2,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the purchase, the director owned 2,906 shares of the company's stock, valued at approximately $153,959.88. This represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded up $0.74 during trading on Monday, reaching $54.45. The company's stock had a trading volume of 2,109,152 shares, compared to its average volume of 4,367,433. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 12-month low of $47.52 and a 12-month high of $78.16. The company has a market capitalization of $14.62 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 2.63 and a beta of 0.71. The business has a 50 day moving average price of $61.12 and a 200-day moving average price of $64.40.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 27th. Investors of record on Monday, April 20th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 3.5%. McCormick & Company, Incorporated's payout ratio is currently 31.48%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MKC shares. BNP Paribas Exane reduced their price objective on McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a "buy" rating for the company in a research report on Wednesday, March 25th. Barclays dropped their price target on McCormick & Company, Incorporated from $67.00 to $58.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 31st. Stifel Nicolaus dropped their price target on McCormick & Company, Incorporated from $65.00 to $55.00 and set a "hold" rating for the company in a research report on Wednesday, April 1st. Finally, Jefferies Financial Group dropped their price target on McCormick & Company, Incorporated from $81.00 to $64.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $64.27.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of hedge funds and other institutional investors have recently made changes to their positions in MKC. Heartwood Wealth Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at $28,000. GoalVest Advisory LLC purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $28,000. Deseret Mutual Benefit Administrators grew its position in shares of McCormick & Company, Incorporated by 67.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company's stock valued at $28,000 after purchasing an additional 164 shares during the period. Motiv8 Investments LLC purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $28,000. Finally, Zions Bancorporation National Association UT grew its position in shares of McCormick & Company, Incorporated by 340.0% in the fourth 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 during the period. Hedge funds and other 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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