The COB, Pres & CEO of McCormick & Company is Exercising Options

By Carrie Williams

Today it was reported that the COB, Pres & CEO of McCormick & Company (NYSE: MKC), Lawrence Erik Kurzius, exercised options to sell 51,300 MKC shares at $54.24 a share, for a total transaction value of $7.29M.

Following Lawrence Erik Kurzius’ last MKC Sell transaction on October 07, 2015, the stock climbed by 67.7%. In addition to Lawrence Erik Kurzius, 4 other MKC executives reported Sell trades in the last month.

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Based on McCormick & Company’s latest earnings report for the quarter ending August 31, the company posted quarterly revenue of $1.35 billion and quarterly net profit of $174 million. In comparison, last year the company earned revenue of $1.19 billion and had a net profit of $108 million. MKC’s market cap is $19.06B and the company has a P/E ratio of 21.51. Currently, McCormick & Company has an average volume of 291.8K.

Based on 5 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $134.20, reflecting a -6.5% downside.

In the last 30 days, insiders have sold $24.63M worth of MKC shares and purchased $5.26M worth of MKC shares. The insider sentiment on McCormick & Company has been negative according to 69 insider trades in the past three months. This sentiment is slightly lower than the average sentiment of company insiders in this sector.

Lawrence Erik Kurzius’ trades have generated a -0.3% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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McCormick & Co., Inc. engages in the manufacture, market, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Industrial business segments.