Bessemer Group Inc. Cuts Position in McCormick & Company, Incorporated (NYSE:MKC)

Bessemer Group Inc. lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 61.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,435 shares of the company's stock after selling 26,567 shares during the quarter. Bessemer Group Inc.'s holdings in McCormick & Company, Incorporated were worth $1,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of MKC. Hazlett Burt & Watson Inc. boosted its position in McCormick & Company, Incorporated by 2.8% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock worth $382,000 after purchasing an additional 137 shares during the last quarter. Sage Capital Advisors llc lifted its position in shares of McCormick & Company, Incorporated by 2.8% in the first quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock valued at $413,000 after acquiring an additional 137 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in McCormick & Company, Incorporated by 1.8% in the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock worth $643,000 after purchasing an additional 140 shares during the period. Miracle Mile Advisors LLC grew its stake in McCormick & Company, Incorporated by 1.3% during the first quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock valued at $912,000 after acquiring an additional 146 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of McCormick & Company, Incorporated by 1.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company's stock valued at $755,000 after purchasing an additional 154 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Citigroup decreased their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, June 17th. Finally, UBS Group began coverage on shares of McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus target price of $84.13.

McCormick & Company, Incorporated Trading Up 1.8%

Shares of MKC stock traded up $1.38 during trading on Tuesday, hitting $77.20. 3,060,344 shares of the stock traded hands, compared to its average volume of 2,050,140. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The firm's fifty day moving average price is $74.37 and its 200-day moving average price is $76.60. McCormick & Company, Incorporated has a 52-week low of $69.00 and a 52-week high of $86.24. The firm has a market capitalization of $20.70 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 3.65 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. McCormick & Company, Incorporated's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 EPS. As a group, research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a $0.45 dividend. The ex-dividend date is Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.33%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Insider Buying and Selling

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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction dated 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 sale, the director directly owned 247,437 shares in the company, 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 a total of 60,392 shares of company stock valued at $4,898,101 over the last quarter. 23.80% of the stock is currently owned by 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.