Short Interest in McCormick & Company, Incorporated (NYSE:MKC) Increases By 23.2%

McCormick & Company, Incorporated (NYSE:MKC) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 6,750,000 shares, a growth of 23.2% from the June 30th total of 5,480,000 shares. Based on an average daily trading volume, of 1,900,000 shares, the short-interest ratio is currently 3.6 days.

McCormick & Company, Incorporated Stock Up 0.3 %

Shares of McCormick & Company, Incorporated stock traded up $0.22 on Tuesday, hitting $76.34. The company had a trading volume of 286,241 shares, compared to its average volume of 1,987,491. The firm has a market capitalization of $20.51 billion, a P/E ratio of 27.79, a P/E/G ratio of 3.91 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $89.99. 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 stock has a 50-day moving average of $70.99 and a 200-day moving average of $70.85.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations 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 was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s 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 transaction, the director now owns 199,258 shares of the company’s stock, valued at $14,944,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total value of $207,386.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,732 shares of company stock valued at $7,982,386. Company insiders own 22.90% of the company’s stock.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Institutional investors have recently bought and sold shares of the company. Capital Advisors Ltd. LLC raised 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 valued at $27,000 after purchasing an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $29,000. 1620 Investment Advisors Inc. bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth about $35,000. VisionPoint Advisory Group LLC acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $44,000. Finally, Private Trust Co. NA grew its holdings in shares of McCormick & Company, Incorporated by 59.1% in the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after acquiring an additional 290 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MKC shares. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, April 2nd. TD Cowen lowered their price target on 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. Finally, Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $76.25.

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.