Baird Financial Group Inc. Sells 13,322 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Baird Financial Group Inc. lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 255,842 shares of the company's stock after selling 13,322 shares during the quarter. Baird Financial Group Inc. owned 0.10% of McCormick & Company, Incorporated worth $19,505,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MKC. Vanguard Group Inc. increased its stake in McCormick & Company, Incorporated by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock valued at $2,419,653,000 after acquiring an additional 303,973 shares during the period. Geode Capital Management LLC boosted its holdings in McCormick & Company, Incorporated by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock valued at $458,114,000 after purchasing an additional 137,679 shares in the last quarter. Northern Trust Corp boosted its holdings in McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock valued at $281,573,000 after purchasing an additional 531,060 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of McCormick & Company, Incorporated by 10.2% in the 4th quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock valued at $269,060,000 after purchasing an additional 326,041 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of McCormick & Company, Incorporated by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company's stock worth $245,114,000 after buying an additional 190,856 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $74.79 on Wednesday. The stock has a 50-day simple moving average of $78.48 and a 200 day simple moving average of $77.65. The stock has a market capitalization of $20.06 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 3.76 and a beta of 0.74. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results 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 return on equity of 14.89% and a net margin of 11.73%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The company's revenue was up .2% on a year-over-year basis. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.41%. McCormick & Company, Incorporated's payout ratio is 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares of the company's stock, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company's 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 sale, the director now owns 247,437 shares of the company's stock, valued at $20,242,820.97. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,842 shares of company stock worth $6,478,332. Insiders own 23.80% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays decreased their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus price target of $83.14.

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.

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