McCormick & Company, Incorporated $MKC Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.5% in the 4th quarter, HoldingsChannel reports. The fund owned 3,082,691 shares of the company’s stock after selling 47,143 shares during the period. Franklin Resources Inc.’s holdings in McCormick & Company, Incorporated were worth $209,962,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. GoalVest Advisory LLC acquired a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $28,000. Deseret Mutual Benefit Administrators grew its holdings in McCormick & Company, Incorporated by 67.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after acquiring an additional 164 shares in the last quarter. Legacy Wealth Managment LLC ID acquired a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $40,000. Elyxium Wealth LLC acquired a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $43,000. Finally, Rothschild Investment LLC grew its holdings in McCormick & Company, Incorporated by 114.0% during the 3rd quarter. Rothschild Investment LLC now owns 762 shares of the company’s stock worth $51,000 after acquiring an additional 406 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Gavin Hattersley acquired 2,000 shares of McCormick & Company, Incorporated stock in a transaction dated Friday, April 10th. The stock was acquired at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the transaction, the director owned 2,906 shares of the company’s stock, valued at $153,959.88. This represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MKC shares. Barclays lowered their price target on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Sanford C. Bernstein lowered their price target on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. Zacks Research upgraded shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, BTIG Research assumed coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They set a “neutral” rating for the company. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average price target of $63.36.

McCormick & Company, Incorporated Stock Up 2.2%

Shares of NYSE:MKC opened at $48.65 on Wednesday. The company has a market capitalization of $13.07 billion, a PE ratio of 7.97, a P/E/G ratio of 2.33 and a beta of 0.65. The company has a current ratio of 0.76, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a twelve month low of $44.82 and a twelve month high of $78.16. The firm has a 50 day simple moving average of $49.31 and a 200-day simple moving average of $59.60.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s payout ratio is currently 31.48%.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.