Trueblood Wealth Management LLC Trims Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Trueblood Wealth Management LLC trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,066 shares of the company’s stock after selling 475 shares during the quarter. Trueblood Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $335,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $223,202,000. Select Equity Group L.P. bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $104,863,000. Balyasny Asset Management L.P. lifted its stake in shares of McCormick & Company, Incorporated by 47.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company’s stock worth $216,771,000 after purchasing an additional 915,807 shares during the period. Northern Trust Corp lifted its stake in shares of McCormick & Company, Incorporated by 16.8% in the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock worth $281,573,000 after purchasing an additional 531,060 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of McCormick & Company, Incorporated by 88.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company’s stock worth $67,035,000 after purchasing an additional 412,074 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $75.58 on Thursday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The stock has a market cap of $20.27 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 3.76 and a beta of 0.68. The company’s 50 day moving average is $74.46 and its two-hundred day moving average is $77.03. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

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

Analyst Ratings Changes

Separately, Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $83.14.

Insider Activity at McCormick & Company, Incorporated

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