Mogy Joel R Investment Counsel Inc. Sells 5,565 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Mogy Joel R Investment Counsel Inc. lessened its holdings in McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 90.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 585 shares of the company’s stock after selling 5,565 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in McCormick & Company, Incorporated were worth $56,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. First National Bank of South Miami increased its holdings in McCormick & Company, Incorporated by 843.8% during the fourth quarter. First National Bank of South Miami now owns 302 shares of the company’s stock worth $29,000 after buying an additional 270 shares during the last quarter. Confluence Wealth Services Inc. acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $29,000. Lumature Wealth Partners LLC increased its holdings in McCormick & Company, Incorporated by 65.3% during the fourth quarter. Lumature Wealth Partners LLC now owns 324 shares of the company’s stock worth $31,000 after buying an additional 128 shares during the last quarter. Bell Investment Advisors Inc acquired a new position in McCormick & Company, Incorporated during the third quarter worth $32,000. Finally, Missouri Trust & Investment Co acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $34,000. 74.86% of the stock is currently owned by institutional investors and hedge funds.

MKC has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of McCormick & Company, Incorporated from $96.00 to $99.00 in a report on Wednesday, March 30th. StockNews.com started coverage on shares of McCormick & Company, Incorporated in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a report on Thursday, February 17th. They noted that the move was a valuation call. Finally, Credit Suisse Group downgraded shares of McCormick & Company, Incorporated from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a report on Wednesday, January 19th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $99.80.

Shares of McCormick & Company, Incorporated stock traded up $2.40 during trading on Friday, reaching $100.27. The company’s stock had a trading volume of 945,926 shares, compared to its average volume of 1,041,404. The business’s 50-day moving average price is $99.50 and its 200-day moving average price is $94.91. The firm has a market cap of $26.88 billion, a PE ratio of 36.20, a P/E/G ratio of 5.08 and a beta of 0.45. McCormick & Company, Incorporated has a 52 week low of $77.85 and a 52 week high of $107.35. The company has a quick ratio of 0.32, a current ratio of 0.73 and a debt-to-equity ratio of 0.86.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last posted its quarterly earnings data on Tuesday, March 29th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. McCormick & Company, Incorporated had a net margin of 11.77% and a return on equity of 18.00%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. McCormick & Company, Incorporated’s revenue was up 2.8% compared to the same quarter last year. Equities analysts predict that McCormick & Company, Incorporated will post 3.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 25th. Investors of record on Monday, April 11th were given a dividend of $0.37 per share. The ex-dividend date was Friday, April 8th. This represents a $1.48 annualized dividend and a yield of 1.48%. McCormick & Company, Incorporated’s dividend payout ratio is 53.43%.

In related news, CFO Michael R. Smith sold 19,986 shares of the company’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $104.04, for a total transaction of $2,079,343.44. Following the completion of the sale, the chief financial officer now owns 93,025 shares of the company’s stock, valued at $9,678,321. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 15.90% of the company’s stock.

McCormick & Company, Incorporated Profile (Get Rating)

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.

See Also

Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McCormick & Company, Incorporated (NYSE:MKCGet Rating).

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

Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.