McCormick & Company, Incorporated (NYSE:MKC) Major Shareholder Sells $3,371,500.00 in Stock

McCormick & Company, Incorporated (NYSE:MKC) major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $67.43, for a total transaction of $3,371,500.00. Following the sale, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,639,161.66. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Lawrence Erik Kurzius also recently made the following trade(s):

• On Tuesday, November 11th, Lawrence Erik Kurzius sold 39,014 shares of McCormick & Company, Incorporated stock. The shares were sold at an average price of $64.54, for a total transaction of $2,517,963.56.

McCormick & Company, Incorporated Stock Up 1.5%

MKC stock traded up $1.03 during mid-day trading on Wednesday, reaching $68.45. 4,348,841 shares of the company traded hands, compared to its average volume of 3,239,933. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average price is $66.59 and its 200 day moving average price is $68.26. The stock has a market cap of $18.37 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 4.10 and a beta of 0.62. McCormick & Company, Incorporated has a fifty-two week low of $62.64 and a fifty-two week high of $86.24.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.8%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio is currently 66.44%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MKC. SBI Securities Co. Ltd. increased its stake in shares of McCormick & Company, Incorporated by 4.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,239 shares of the company’s stock worth $246,000 after purchasing an additional 148 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in McCormick & Company, Incorporated by 0.7% during the third quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock valued at $1,443,000 after purchasing an additional 157 shares during the period. Ransom Advisory Ltd increased its position in McCormick & Company, Incorporated by 3.6% in the fourth quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock worth $315,000 after buying an additional 160 shares during the last quarter. ORG Partners LLC raised its stake in shares of McCormick & Company, Incorporated by 13.2% in the second quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock valued at $115,000 after buying an additional 173 shares during the period. Finally, Nicholson Wealth Management Group LLC raised its stake in shares of McCormick & Company, Incorporated by 1.0% in the second quarter. Nicholson Wealth Management Group LLC now owns 19,127 shares of the company’s stock valued at $1,450,000 after buying an additional 181 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on MKC shares. Barclays cut their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday, December 15th. Stifel Nicolaus reduced their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, JPMorgan Chase & Co. cut their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $76.50.

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.