Notis McConarty Edward Trims Stock Position in McCormick & Company, Incorporated $MKC

Notis McConarty Edward lowered its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 37.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 26,440 shares of the company’s stock after selling 15,895 shares during the quarter. Notis McConarty Edward’s holdings in McCormick & Company, Incorporated were worth $1,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MKC. Invesco Ltd. grew its stake in shares of McCormick & Company, Incorporated by 66.7% during the 3rd quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock valued at $417,006,000 after acquiring an additional 2,494,544 shares during the period. Wellington Management Group LLP grew its stake in shares of McCormick & Company, Incorporated by 67.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company’s stock valued at $187,183,000 after acquiring an additional 1,124,003 shares during the period. Norges Bank bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $62,711,000. State Street Corp grew its stake in shares of McCormick & Company, Incorporated by 5.1% during the 3rd quarter. State Street Corp now owns 15,522,816 shares of the company’s stock valued at $1,038,632,000 after acquiring an additional 747,844 shares during the period. Finally, American Century Companies Inc. bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth approximately $48,576,000. 79.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jefferies Financial Group dropped their price target on McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, June 4th. BTIG Research assumed coverage on McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They issued a “neutral” rating for the company. TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Weiss Ratings downgraded McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $61.90.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $47.15 on Wednesday. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 2.37 and a beta of 0.65. The firm’s fifty day moving average is $49.17 and its 200 day moving average is $58.94. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 52-week low of $44.82 and a 52-week high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. McCormick & Company, Incorporated’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Sell-side analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a yield of 4.1%. McCormick & Company, Incorporated’s dividend payout ratio is presently 31.48%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Gavin Hattersley purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the purchase, the director directly owned 2,906 shares in the company, valued at $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.60% of the stock is currently owned by insiders.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.