McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Keel Point LLC

Keel Point LLC cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,836 shares of the company’s stock after selling 306 shares during the quarter. Keel Point LLC’s holdings in McCormick & Company, Incorporated were worth $216,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Savvy Advisors Inc. purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth $466,000. Somerville Kurt F increased its stake in shares of McCormick & Company, Incorporated by 34.2% during the fourth quarter. Somerville Kurt F now owns 96,074 shares of the company’s stock worth $7,325,000 after purchasing an additional 24,467 shares in the last quarter. DJE Kapital AG acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $4,228,000. SBI Securities Co. Ltd. purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $234,000. Finally, Asset Management One Co. Ltd. boosted its holdings in McCormick & Company, Incorporated by 16.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock worth $10,547,000 after buying an additional 19,491 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $76.02 on Friday. The company’s 50-day moving average is $78.71 and its two-hundred day moving average is $77.75. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The firm has a market capitalization of $20.39 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’s revenue was up .2% on a year-over-year basis. Analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.37%. McCormick & Company, Incorporated’s payout ratio is currently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the sale, the vice president now directly owns 2,266 shares of the company’s stock, valued at $184,497.72. The trade was a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock valued at $6,478,332 over the last 90 days. 23.80% of the stock is owned by insiders.

Analysts Set New Price Targets

MKC has been the topic of several research reports. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Barclays decreased their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $83.14.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.