M&R Capital Management Inc. Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

M&R Capital Management Inc. reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 23.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,648 shares of the company’s stock after selling 1,424 shares during the period. M&R Capital Management Inc.’s holdings in McCormick & Company, Incorporated were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. WealthPLAN Partners LLC boosted its stake in shares of McCormick & Company, Incorporated by 6.8% during the 3rd quarter. WealthPLAN Partners LLC now owns 1,828 shares of the company’s stock worth $338,000 after purchasing an additional 116 shares during the period. Focused Wealth Management Inc lifted its holdings in McCormick & Company, Incorporated by 100.0% during the 4th quarter. Focused Wealth Management Inc now owns 282 shares of the company’s stock valued at $27,000 after buying an additional 141 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in McCormick & Company, Incorporated by 100.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 282 shares of the company’s stock valued at $27,000 after buying an additional 141 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 75.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 331 shares of the company’s stock valued at $32,000 after buying an additional 142 shares in the last quarter. Finally, Berman Capital Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 59.0% during the 4th quarter. Berman Capital Advisors LLC now owns 469 shares of the company’s stock valued at $44,000 after buying an additional 174 shares in the last quarter. 37.49% of the stock is owned by hedge funds and other institutional investors.

NYSE:MKC opened at $89.16 on Thursday. The company’s 50 day moving average is $86.53 and its two-hundred day moving average is $92.43. The company has a market cap of $23.80 billion, a PE ratio of 31.51, a P/E/G ratio of 5.74 and a beta of 0.44. The company has a current ratio of 0.90, a quick ratio of 0.42 and a debt-to-equity ratio of 0.95. McCormick & Company, Incorporated has a twelve month low of $72.79 and a twelve month high of $105.54.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Monday, March 29th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.14. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. McCormick & Company, Incorporated had a net margin of 13.75% and a return on equity of 20.93%. During the same period in the prior year, the firm posted $0.54 earnings per share. As a group, analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 26th. Investors of record on Monday, April 12th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, April 9th. McCormick & Company, Incorporated’s dividend payout ratio is currently 50.94%.

Separately, Argus reiterated a “hold” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, March 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $87.64.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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