McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 74.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,422 shares of the company's stock after selling 35,876 shares during the quarter. Assenagon Asset Management S.A.'s holdings in McCormick & Company, Incorporated were worth $1,022,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Curio Wealth LLC purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $30,000. Twin Tree Management LP purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $33,000. Ameriflex Group Inc. purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $33,000. Lee Danner & Bass Inc. purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $37,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock traded down $0.23 on Friday, reaching $72.98. 2,803,694 shares of the stock were exchanged, compared to its average volume of 2,047,025. The firm has a market capitalization of $19.57 billion, a PE ratio of 25.08, a PEG ratio of 3.68 and a beta of 0.68. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The business has a fifty day moving average price of $74.40 and a two-hundred day moving average price of $76.86. The company has a current ratio of 0.65, a quick ratio of 0.25 and a debt-to-equity ratio of 0.57.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 EPS 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 14.63% and a net margin of 11.67%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. As a group, research analysts anticipate 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 was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Insiders Place Their Bets

In other news, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the transaction, the vice president now directly owns 2,266 shares of the company's stock, valued at $184,497.72. The trade was a 54.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,392 shares of company stock worth $4,898,101. Insiders own 23.80% of the company's stock.

Analyst Ratings Changes

MKC has been the subject of a number of research reports. Citigroup reduced their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday. UBS Group began coverage on shares of McCormick & Company, Incorporated in a research note on Monday. They set a "neutral" rating and a $83.00 price target on the stock. Finally, Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus target price of $84.13.

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.