Bank of Nova Scotia Has $2.41 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Bank of Nova Scotia lessened its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 23.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,267 shares of the company's stock after selling 8,981 shares during the period. Bank of Nova Scotia's holdings in McCormick & Company, Incorporated were worth $2,409,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Wayfinding Financial LLC purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter worth $30,000. Salem Investment Counselors Inc. boosted its holdings in McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after acquiring an additional 336 shares during the period. Ameriflex Group Inc. bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Stonebridge Financial Group LLC raised its position in shares of McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after buying an additional 202 shares during the last quarter. Finally, Parvin Asset Management LLC bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $38,000. 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 business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Stock Up 0.2%

NYSE MKC traded up $0.13 during trading hours on Friday, hitting $70.37. 1,466,125 shares of the company traded hands, compared to its average volume of 2,296,429. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The business's 50-day moving average is $73.10 and its 200-day moving average is $75.89. The stock has a market capitalization of $18.89 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 3.34 and a beta of 0.66. McCormick & Company, Incorporated has a twelve month low of $69.13 and a twelve month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The business's revenue was up 1.0% compared to the same quarter last year. Sell-side 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, July 21st. Investors of record on Monday, July 7th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.50%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MKC. UBS Group assumed coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 price target on the stock. Stifel Nicolaus reduced their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th. Citigroup cut their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. Finally, Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and a consensus price target of $83.00.

McCormick & Company, Incorporated Company 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.