McCormick & Company, Incorporated (NYSE:MKC) Sets New 52-Week High at $84.14

McCormick & Company, Incorporated (NYSE:MKC) reached a new 52-week high on Tuesday . The company traded as high as $84.14 and last traded at $83.76, with a volume of 44466 shares trading hands. The stock had previously closed at $83.24.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MKC. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price target for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. TD Cowen dropped their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average price target of $76.25.

McCormick & Company, Incorporated Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 4.27 and a beta of 0.76. The business’s fifty day simple moving average is $76.33 and its 200 day simple moving average is $73.45.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, research analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.00%. The ex-dividend date was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 22.90% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

A number of institutional investors have recently modified their holdings of the business. Capital Advisors Ltd. LLC increased its holdings in shares of McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. OFI Invest Asset Management purchased a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $29,000. 1620 Investment Advisors Inc. purchased a new position in shares of McCormick & Company, Incorporated during the second quarter worth about $35,000. Strategic Investment Solutions Inc. IL bought a new position in shares of McCormick & Company, Incorporated in the second quarter worth approximately $39,000. Finally, Farmers & Merchants Investments Inc. raised its stake in McCormick & Company, Incorporated by 40.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock valued at $56,000 after purchasing an additional 228 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.