McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Summit Financial LLC

Summit Financial LLC cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,875 shares of the company’s stock after selling 302 shares during the period. Summit Financial LLC’s holdings in McCormick & Company, Incorporated were worth $336,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Northern Trust Corp lifted its stake in shares of McCormick & Company, Incorporated by 2.8% in the third quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock worth $260,108,000 after acquiring an additional 93,034 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of McCormick & Company, Incorporated by 2.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,221,637 shares of the company’s stock valued at $168,045,000 after purchasing an additional 46,063 shares in the last quarter. Invesco Ltd. raised its position in shares of McCormick & Company, Incorporated by 15.4% in the 3rd quarter. Invesco Ltd. now owns 1,828,576 shares of the company’s stock valued at $138,313,000 after purchasing an additional 244,211 shares in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $92,340,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of McCormick & Company, Incorporated by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,317,845 shares of the company’s stock worth $99,682,000 after buying an additional 19,962 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Citigroup increased their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Stifel Nicolaus boosted their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. Barclays increased their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Finally, Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus price target of $77.88.

McCormick & Company, Incorporated Stock Up 0.4 %

NYSE:MKC opened at $75.45 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $72.26 and a 200-day moving average of $68.22. The firm has a market capitalization of $20.25 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.23%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the sale, the director now directly owns 5,594 shares in the company, valued at approximately $430,738. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. Insiders have sold a total of 33,726 shares of company stock worth $2,504,728 in the last ninety days. 22.90% of the stock is owned by insiders.

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.