Comerica Bank Reduces Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Comerica Bank lowered its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,554 shares of the company's stock after selling 3,690 shares during the period. Comerica Bank's holdings in McCormick & Company, Incorporated were worth $7,438,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MKC. Principal Financial Group Inc. lifted its stake in McCormick & Company, Incorporated by 8.9% in the 3rd quarter. Principal Financial Group Inc. now owns 308,903 shares of the company's stock worth $25,423,000 after purchasing an additional 25,278 shares in the last quarter. Everence Capital Management Inc. grew its holdings in shares of McCormick & Company, Incorporated by 73.9% in the fourth quarter. Everence Capital Management Inc. now owns 10,590 shares of the company's stock valued at $807,000 after purchasing an additional 4,500 shares during the period. Nordea Investment Management AB increased its position in McCormick & Company, Incorporated by 10.0% during the fourth quarter. Nordea Investment Management AB now owns 21,507 shares of the company's stock worth $1,641,000 after purchasing an additional 1,955 shares during the last quarter. ST Germain D J Co. Inc. raised its stake in McCormick & Company, Incorporated by 24.9% during the fourth quarter. ST Germain D J Co. Inc. now owns 7,670 shares of the company's stock worth $585,000 after purchasing an additional 1,530 shares during the period. Finally, Jacobs & Co. CA boosted its holdings in McCormick & Company, Incorporated by 2.1% in the 4th quarter. Jacobs & Co. CA now owns 149,685 shares of the company's stock valued at $11,411,000 after purchasing an additional 3,020 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $223,905.00. Following the sale, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now directly owns 6,177 shares of the company's stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,842 shares of company stock worth $6,478,332 in the last quarter. 23.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MKC has been the topic of several research analyst reports. Barclays reduced their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. One 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 company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated Trading Up 0.2 %

NYSE MKC traded up $0.15 during trading hours on Friday, hitting $76.37. The company's stock had a trading volume of 465,800 shares, compared to its average volume of 1,962,011. The stock has a fifty day moving average of $78.15 and a 200 day moving average of $77.62. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $20.48 billion, a P/E ratio of 26.06, a PEG ratio of 3.76 and a beta of 0.74. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted 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). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 61.86%.

McCormick & Company, Incorporated Company 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.