Mcdaniel Terry & Co. Lowers Stake in McCormick & Company, Incorporated (NYSE:MKC)

Mcdaniel Terry & Co. lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,228 shares of the company’s stock after selling 6,921 shares during the period. McCormick & Company, Incorporated accounts for about 1.8% of Mcdaniel Terry & Co.’s investment portfolio, making the stock its 23rd biggest holding. Mcdaniel Terry & Co.’s holdings in McCormick & Company, Incorporated were worth $20,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MKC. Sigma Planning Corp lifted its holdings in McCormick & Company, Incorporated by 22.2% during the fourth quarter. Sigma Planning Corp now owns 5,562 shares of the company’s stock worth $424,000 after buying an additional 1,009 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth $374,000. NewEdge Wealth LLC increased its position in shares of McCormick & Company, Incorporated by 13.5% during the fourth quarter. NewEdge Wealth LLC now owns 16,263 shares of the company’s stock worth $1,240,000 after purchasing an additional 1,935 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of McCormick & Company, Incorporated by 0.5% during the fourth quarter. New York Life Investment Management LLC now owns 37,511 shares of the company’s stock worth $2,860,000 after purchasing an additional 175 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of McCormick & Company, Incorporated by 1.8% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 98,090 shares of the company’s stock worth $7,478,000 after purchasing an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction dated Monday, May 12th. The shares were 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 valued at $4,898,101 over the last ninety days. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $76.48 on Friday. The company has a 50-day simple moving average of $74.35 and a 200-day simple moving average of $76.70. McCormick & Company, Incorporated has a one year low of $69.00 and a one year high of $86.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.25 and a current ratio of 0.65. The stock has a market capitalization of $20.51 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 3.88 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.58%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. On average, analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, July 7th. This represents a $1.80 annualized dividend and a yield of 2.35%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Analysts Set New Price Targets

MKC has been the topic of a number of recent analyst reports. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Citigroup reduced their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 17th. Finally, UBS Group initiated coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a “neutral” rating and a $83.00 price target on the stock. One analyst has rated the stock with a sell rating, five 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 currently has an average rating of “Hold” and a consensus target price of $84.13.

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.