The EVP & CFO of McCormick & Company (NYSE: MKC) is Selling Shares

By Carrie Williams

Today, the EVP & CFO of McCormick & Company (MKCResearch Report), Michael R. Smith, sold shares of MKC for $1.51M.

Following Michael R. Smith’s last MKC Sell transaction on July 08, 2019, the stock climbed by 21.6%. In addition to Michael R. Smith, 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 May 31, the company posted quarterly revenue of $1.4 billion and quarterly net profit of $196 million. In comparison, last year the company earned revenue of $1.3 billion and had a net profit of $149 million. The company has a one-year high of $182.92 and a one-year low of $112.23. Currently, McCormick & Company has an average volume of 437.76K.

Based on 9 analyst ratings, the analyst consensus is Hold with an average price target of $161.00, reflecting a 12.6% upside.

In the last 30 days, insiders have sold $3.04M worth of MKC shares and purchased $1.71M worth of MKC shares. The insider sentiment on McCormick & Company has been neutral according to 61 insider trades in the past three months. This sentiment is higher than the average sentiment of company insiders in this sector.

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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 following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao. The Flavour Solutions segment provides products to multinational food manufacturers and foodservice customers. The company was founded by Willoughby M. McCormick in 1889 and is headquartered in Hunt Valley, MD.