McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,553 shares of the company's stock after selling 51,906 shares during the period. Bank of Montreal Can owned approximately 0.12% of McCormick & Company, Incorporated worth $23,982,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in McCormick & Company, Incorporated by 21.7% in the third quarter. Wellington Management Group LLP now owns 139,728 shares of the company's stock worth $11,500,000 after buying an additional 24,881 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in McCormick & Company, Incorporated in the third quarter worth approximately $502,000. EP Wealth Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 14.6% in the third quarter. EP Wealth Advisors LLC now owns 5,631 shares of the company's stock worth $463,000 after purchasing an additional 716 shares during the period. Vestcor Inc grew its position in shares of McCormick & Company, Incorporated by 25.9% during the third quarter. Vestcor Inc now owns 5,043 shares of the company's stock worth $415,000 after purchasing an additional 1,036 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of McCormick & Company, Incorporated by 0.9% during the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company's stock valued at $482,823,000 after buying an additional 54,018 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Up 2.2 %

McCormick & Company, Incorporated stock traded up $1.62 during midday trading on Thursday, hitting $75.16. 976,912 shares of the company's stock were exchanged, compared to its average volume of 1,949,434. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The company has a market cap of $20.16 billion, a PE ratio of 25.65, a P/E/G ratio of 3.76 and a beta of 0.75. The firm has a 50-day moving average of $79.40 and a two-hundred day moving average of $78.20.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. As a group, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research reports. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Barclays lowered their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. increased 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. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $83.14.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. This represents a 54.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is owned by company insiders.

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.