MCCORMICK & CO /SH NV (NYSE:MKC) saw some unusual options trading on Wednesday. Stock traders bought 1,621 put options on the stock. This represents an increase of 882% compared to the typical volume of 165 put options.

Shares of NYSE MKC opened at $129.89 on Thursday. MCCORMICK & CO /SH has a 1-year low of $93.70 and a 1-year high of $132.83. The company has a current ratio of 0.85, a quick ratio of 0.42 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $16.97 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 2.89 and a beta of 0.55.

MCCORMICK & CO /SH (NYSE:MKC) last issued its earnings results on Thursday, June 28th. The company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.09. MCCORMICK & CO /SH had a return on equity of 21.98% and a net margin of 15.83%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. sell-side analysts anticipate that MCCORMICK & CO /SH will post 4.96 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 23rd. Shareholders of record on Tuesday, October 9th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, October 5th. MCCORMICK & CO /SH’s dividend payout ratio is presently 48.83%.

MKC has been the topic of several research reports. Zacks Investment Research lowered MCCORMICK & CO /SH from a “hold” rating to a “sell” rating in a research report on Tuesday, June 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $123.00 target price on shares of MCCORMICK & CO /SH in a research report on Thursday, June 28th. Vertical Group lowered MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. They noted that the move was a valuation call. Citigroup increased their target price on MCCORMICK & CO /SH from $114.00 to $117.00 and gave the stock a “neutral” rating in a research report on Friday, June 29th. Finally, Credit Suisse Group increased their target price on MCCORMICK & CO /SH from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, June 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $114.25.

In related news, Director Alan D. Wilson sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $125.30, for a total transaction of $12,530,000.00. Following the sale, the director now directly owns 212,894 shares of the company’s stock, valued at approximately $26,675,618.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael R. Smith sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $119.90, for a total value of $959,200.00. Following the sale, the vice president now directly owns 22,759 shares in the company, valued at $2,728,804.10. The disclosure for this sale can be found here. Corporate insiders own 19.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Putnam Investments LLC boosted its stake in MCCORMICK & CO /SH by 23.6% during the second quarter. Putnam Investments LLC now owns 2,567,422 shares of the company’s stock valued at $298,052,000 after buying an additional 489,488 shares in the last quarter. FMR LLC boosted its stake in MCCORMICK & CO /SH by 89.1% during the second quarter. FMR LLC now owns 916,815 shares of the company’s stock valued at $106,433,000 after buying an additional 431,896 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in MCCORMICK & CO /SH during the first quarter valued at about $45,205,000. Robeco Institutional Asset Management B.V. boosted its position in shares of MCCORMICK & CO /SH by 180.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 562,773 shares of the company’s stock valued at $65,333,000 after purchasing an additional 361,921 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in shares of MCCORMICK & CO /SH by 3,470.6% in the 2nd quarter. Glenmede Trust Co. NA now owns 352,453 shares of the company’s stock valued at $40,917,000 after purchasing an additional 342,582 shares during the period. 82.58% of the stock is currently owned by institutional investors.

MCCORMICK & CO /SH Company Profile

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

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