Baker Chad R Grows Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Baker Chad R increased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 120.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,370 shares of the company's stock after acquiring an additional 18,745 shares during the quarter. Baker Chad R's holdings in McCormick & Company, Incorporated were worth $2,829,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MKC. Fifth Third Bancorp boosted its stake in shares of McCormick & Company, Incorporated by 1.2% in the 1st quarter. Fifth Third Bancorp now owns 122,499 shares of the company's stock valued at $10,083,000 after purchasing an additional 1,398 shares during the last quarter. Focus Financial Network Inc. boosted its position in McCormick & Company, Incorporated by 8.8% during the first quarter. Focus Financial Network Inc. now owns 6,226 shares of the company's stock valued at $512,000 after acquiring an additional 505 shares during the last quarter. USA Financial Formulas grew its holdings in McCormick & Company, Incorporated by 42.6% during the 1st quarter. USA Financial Formulas now owns 2,718 shares of the company's stock worth $224,000 after acquiring an additional 812 shares during the period. CX Institutional acquired a new stake in McCormick & Company, Incorporated during the 1st quarter worth about $275,000. Finally, Moseley Investment Management Inc. raised its position in shares of McCormick & Company, Incorporated by 1.6% in the 1st quarter. Moseley Investment Management Inc. now owns 17,925 shares of the company's stock worth $1,475,000 after acquiring an additional 280 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

McCormick & Company, Incorporated Stock Down 2.5%

MKC traded down $1.88 during midday trading on Friday, hitting $73.93. The company had a trading volume of 1,993,848 shares, compared to its average volume of 2,042,885. The stock's 50 day moving average price is $74.50 and its 200 day moving average price is $77.02. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The company has a market capitalization of $19.83 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 3.76 and a beta of 0.68. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its 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). The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. On average, research analysts anticipate 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. Investors of record on Monday, April 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm'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 transaction, the director now owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This trade represents a 16.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 60,392 shares of company stock worth $4,898,101. 23.80% of the stock is owned by corporate insiders.

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.