McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Evercore Wealth Management LLC

Evercore Wealth Management LLC reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,345 shares of the company’s stock after selling 966 shares during the quarter. Evercore Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,368,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 0.4% in the first quarter. BlackRock Inc. now owns 20,915,508 shares of the company’s stock valued at $1,864,827,000 after acquiring an additional 89,074 shares during the period. Geode Capital Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 2.4% during the first quarter. Geode Capital Management LLC now owns 4,378,762 shares of the company’s stock worth $389,392,000 after purchasing an additional 102,011 shares during the period. Nordea Investment Management AB lifted its holdings in shares of McCormick & Company, Incorporated by 21.7% during the first quarter. Nordea Investment Management AB now owns 1,903,635 shares of the company’s stock worth $169,633,000 after purchasing an additional 339,278 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of McCormick & Company, Incorporated by 29.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,838,125 shares of the company’s stock worth $163,888,000 after purchasing an additional 416,018 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of McCormick & Company, Incorporated by 97.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,817,051 shares of the company’s stock worth $173,710,000 after purchasing an additional 894,877 shares during the period. 74.26% of the stock is owned by institutional investors and hedge funds.

Separately, Stifel Nicolaus reaffirmed a “hold” rating and set a $89.00 price target on shares of McCormick & Company, Incorporated in a report on Friday, July 2nd.

Shares of NYSE MKC opened at $85.56 on Thursday. The business’s fifty day moving average is $88.34. The firm has a market capitalization of $22.87 billion, a P/E ratio of 29.58, a PEG ratio of 4.23 and a beta of 0.47. The company has a current ratio of 0.86, a quick ratio of 0.38 and a debt-to-equity ratio of 1.09. McCormick & Company, Incorporated has a 1-year low of $82.03 and a 1-year high of $105.54.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Wednesday, June 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.07. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.47 billion. McCormick & Company, Incorporated had a return on equity of 19.50% and a net margin of 12.48%. McCormick & Company, Incorporated’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 earnings per share. On average, research analysts expect that McCormick & Company, Incorporated will post 3.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 26th. Shareholders of record on Monday, July 12th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, July 9th. McCormick & Company, Incorporated’s payout ratio is 48.06%.

McCormick & Company, Incorporated Profile

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 rice, 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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