Handelsbanken Fonder AB Cuts Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Handelsbanken Fonder AB lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 13.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 182,495 shares of the company’s stock after selling 27,219 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.07% of McCormick & Company, Incorporated worth $15,021,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. Curio Wealth LLC acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth $30,000. Twin Tree Management LP acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth $33,000. Ameriflex Group Inc. acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth $33,000. Lee Danner & Bass Inc. acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth $37,000. Finally, Parvin Asset Management LLC acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Argus cut shares of 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus price target of $83.14.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $75.58 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The firm has a market cap of $20.27 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 3.76 and a beta of 0.68. The company’s 50 day simple moving average is $74.46 and its 200-day simple moving average is $77.03. 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 data on Tuesday, March 25th. The company reported $0.60 earnings per share 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 firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business earned $0.63 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the sale, the director now directly owns 247,437 shares of the company’s stock, valued at approximately $20,242,820.97. This trade represents a 16.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is owned by company insiders.

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.