McCormick & Company, Incorporated (NYSE:MKC) Short Interest Update

McCormick & Company, Incorporated (NYSE:MKC) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 5,650,000 shares, a drop of 12.7% from the August 31st total of 6,470,000 shares. Based on an average daily trading volume, of 1,900,000 shares, the short-interest ratio is currently 3.0 days.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price objective for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. Bank of America lifted their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, TD Cowen reduced their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average price target of $76.14.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $83.24 on Monday. The firm has a market cap of $22.36 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $85.49. The business’s fifty day simple moving average is $79.67 and its 200-day simple moving average is $74.94.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a dividend of $0.42 per share. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.02%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.90% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Large investors have recently modified their holdings of the stock. Capital Advisors Ltd. LLC increased its holdings in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. purchased a new position in McCormick & Company, Incorporated during the 2nd quarter worth $35,000. Strategic Investment Solutions Inc. IL purchased a new position in McCormick & Company, Incorporated during the 2nd quarter worth $39,000. Finally, Farmers & Merchants Investments Inc. increased 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 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 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.