West Oak Capital LLC Sells 2,662 Shares of McCormick & Company, Incorporated (NYSE:MKC)

West Oak Capital LLC reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 45.4% during the fourth quarter, Holdings Channel reports. The firm owned 3,200 shares of the company’s stock after selling 2,662 shares during the period. West Oak Capital LLC’s holdings in McCormick & Company, Incorporated were worth $212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Union Savings Bank bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $27,000. Legacy Financial Group LLC purchased a new position in McCormick & Company, Incorporated in the third quarter worth $29,000. Anchor Investment Management LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at $36,000. Point72 Hong Kong Ltd purchased a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at $44,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth $46,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $0.76 during mid-day trading on Thursday, hitting $76.79. The company had a trading volume of 595,524 shares, compared to its average volume of 2,135,077. The company has a current ratio of 0.68, a quick ratio of 0.28 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The company has a market capitalization of $20.60 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 4.20 and a beta of 0.73. The stock’s 50-day moving average price is $67.73 and its 200-day moving average price is $67.74.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $1.55 billion. During the same quarter last year, the company earned $0.59 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.82 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.19%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

Analysts Set New Price Targets

A number of research firms recently issued reports on MKC. Citigroup raised their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday. Stifel Nicolaus lifted their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Finally, Barclays increased their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $76.25.

Insiders Place Their Bets

In related news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total value of $326,000.00. Following the sale, the director now owns 39,181 shares in the company, valued at $2,554,601.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.90% of the company’s stock.

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.