Bryn Mawr Capital Management LLC Sells 2,859 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Bryn Mawr Capital Management LLC reduced its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 29.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,978 shares of the company’s stock after selling 2,859 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $574,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MKC. Hazlett Burt & Watson Inc. lifted its stake in McCormick & Company, Incorporated by 2.8% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company’s stock valued at $382,000 after buying an additional 137 shares during the period. Sage Capital Advisors llc lifted its stake in McCormick & Company, Incorporated by 2.8% in the first quarter. Sage Capital Advisors llc now owns 5,017 shares of the company’s stock valued at $413,000 after buying an additional 137 shares during the period. Bessemer Group Inc. lifted its stake in McCormick & Company, Incorporated by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company’s stock valued at $3,278,000 after buying an additional 139 shares during the period. ST Germain D J Co. Inc. lifted its stake in McCormick & Company, Incorporated by 1.8% in the first quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company’s stock valued at $643,000 after buying an additional 140 shares during the period. Finally, Miracle Mile Advisors LLC lifted its stake in McCormick & Company, Incorporated by 1.3% in the first quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company’s stock valued at $912,000 after buying an additional 146 shares during the period. 79.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. UBS Group assumed coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a “neutral” rating and a $83.00 price target on the stock. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Citigroup lowered their target price 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, Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $84.13.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $71.37 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a twelve month low of $69.98 and a twelve month high of $86.24. The stock’s 50 day moving average is $73.88 and its 200-day moving average is $76.20. The firm has a market capitalization of $19.15 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 3.40 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced 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. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. McCormick & Company, Incorporated’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business 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 2.52%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 62.50%.

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.