Rockingstone Advisors LLC Sells 6,005 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Rockingstone Advisors LLC lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 18.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,567 shares of the company’s stock after selling 6,005 shares during the quarter. Rockingstone Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $2,187,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in MKC. Curio Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $30,000. Twin Tree Management LP acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $33,000. Ameriflex Group Inc. acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $33,000. Lee Danner & Bass Inc. acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $37,000. Finally, Parvin Asset Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $38,000. Institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

Separately, Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $83.14.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,392 shares of company stock valued at $4,898,101. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.4%

McCormick & Company, Incorporated stock opened at $75.55 on Wednesday. The business has a 50 day moving average price of $74.47 and a two-hundred day moving average price of $77.04. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a market cap of $20.26 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 3.76 and a beta of 0.68. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24.

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). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company’s revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. As a group, equities 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. Stockholders of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.38%. McCormick & Company, Incorporated’s payout ratio is presently 61.86%.

McCormick & Company, Incorporated Company 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.