Comerica Bank cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. International Private Wealth Advisors LLC lifted its position in McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company's stock worth $276,000 after buying an additional 136 shares in the last quarter. 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. Empower Advisory Group LLC grew its holdings in McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock valued at $641,000 after purchasing an additional 138 shares during the period. Bessemer Group Inc. raised its stake in McCormick & Company, Incorporated by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock worth $3,278,000 after buying an additional 139 shares during the period. Finally, Hunter Associates Investment Management LLC raised its position in shares of McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company's stock worth $954,000 after purchasing an additional 153 shares during the period. 79.74% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have issued reports on MKC shares. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays lowered 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. Finally, JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $83.14.
Read Our Latest Stock Report on McCormick & Company, Incorporated
Insiders Place Their Bets
In other news, VP Gregory Repas sold 2,750 shares of the 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 sale, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. This represents a 54.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were 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 in the company, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is currently owned by insiders.
McCormick & Company, Incorporated Stock Performance
NYSE MKC traded down $0.51 during trading on Tuesday, reaching $74.79. The company's stock had a trading volume of 1,975,826 shares, compared to its average volume of 1,963,445. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $20.06 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. The firm has a 50 day moving average price of $78.62 and a 200 day moving average price of $77.67. 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 posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the firm earned $0.63 EPS. The firm's revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.41%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 61.86%.
About McCormick & Company, Incorporated
(
Free Report)
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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