Ameriprise Financial Inc. Lowers Position in McCormick & Company, Incorporated (NYSE:MKC)

Ameriprise Financial Inc. decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 28.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,235 shares of the company's stock after selling 61,431 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.06% of McCormick & Company, Incorporated worth $11,692,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MKC. Norges Bank bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $223,202,000. Northern Trust Corp boosted its position in shares of McCormick & Company, Incorporated by 16.8% during the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after acquiring an additional 531,060 shares in the last quarter. Invesco Ltd. increased its stake in shares of McCormick & Company, Incorporated by 17.6% in the 4th quarter. Invesco Ltd. now owns 2,641,812 shares of the company's stock valued at $201,412,000 after purchasing an additional 396,214 shares during the last quarter. Amundi grew its position in McCormick & Company, Incorporated by 37.5% in the fourth quarter. Amundi now owns 1,372,446 shares of the company's stock valued at $102,275,000 after acquiring an additional 374,559 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in McCormick & Company, Incorporated by 9,283.1% in the fourth quarter. Teacher Retirement System of Texas now owns 367,253 shares of the company's stock valued at $27,999,000 after buying an additional 363,339 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This represents a 16.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock worth $4,898,101 in the last 90 days. Insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Trading Down 0.5%

MKC traded down $0.36 during trading on Friday, reaching $70.96. 1,831,966 shares of the stock traded hands, compared to its average volume of 2,019,649. 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 stock's 50-day moving average is $76.59 and its 200 day moving average is $77.34. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The stock has a market capitalization of $19.03 billion, a PE ratio of 24.23, a P/E/G ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company earned $0.63 EPS. The firm's revenue for the quarter was up .2% on a year-over-year basis. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.54%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price 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. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and a consensus price target of $83.14.

About McCormick & Company, Incorporated

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.