McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Man Group plc

Man Group plc cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 73.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,521 shares of the company’s stock after selling 293,046 shares during the period. Man Group plc’s holdings in McCormick & Company, Incorporated were worth $8,197,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

MKC has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Barclays dropped their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Finally, Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $83.14.

McCormick & Company, Incorporated Trading Down 1.5%

Shares of MKC stock opened at $74.30 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The stock has a market capitalization of $19.93 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. The company has a 50 day moving average price of $77.09 and a 200 day moving average price of $77.45.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm earned $0.63 EPS. The company’s revenue was up .2% on a year-over-year basis. Equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.42%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Katherine Jenkins sold 7,642 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. Insiders sold 60,392 shares of company stock worth $4,898,101 in the last 90 days. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Profile

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.