36,569 Shares in McCormick & Company, Incorporated (NYSE:MKC) Bought by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV purchased a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 36,569 shares of the company's stock, valued at approximately $3,010,000.

Other institutional investors also recently modified their holdings of the company. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth about $30,000. Salem Investment Counselors Inc. increased its stake in shares of McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after acquiring an additional 336 shares in the last quarter. Twin Tree Management LP bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth about $33,000. Ameriflex Group Inc. bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth about $33,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth about $37,000. 79.74% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $184,497.72. This trade represents a 54.82% decrease in their position. The sale 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 firm'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 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. Insiders have sold a total of 60,392 shares of company stock valued at $4,898,101 in the last 90 days. 23.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $85.50.

McCormick & Company, Incorporated Stock Down 2.5%

MKC stock traded down $1.88 during trading on Friday, hitting $73.93. 1,993,848 shares of the stock traded hands, compared to its average volume of 2,042,886. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The firm's 50 day moving average is $74.53 and its two-hundred day moving average is $76.99. The stock has a market cap of $19.83 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 3.76 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (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 net margin of 11.73% and a return on equity of 14.89%. The business's revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 EPS. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders 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 dividend yield of 2.43%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's payout ratio is presently 61.86%.

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.