Boston Family Office LLC Sells 67,233 Shares of McCormick & Company, Incorporated $MKC

Boston Family Office LLC reduced its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 32.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 142,150 shares of the company's stock after selling 67,233 shares during the quarter. Boston Family Office LLC owned 0.05% of McCormick & Company, Incorporated worth $9,682,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MKC. Invesco Ltd. lifted its position in shares of McCormick & Company, Incorporated by 66.7% during the 3rd quarter. Invesco Ltd. now owns 6,232,337 shares of the company's stock worth $417,006,000 after buying an additional 2,494,544 shares during the last quarter. Wellington Management Group LLP raised its position in McCormick & Company, Incorporated by 67.2% in the third quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company's stock valued at $187,183,000 after purchasing an additional 1,124,003 shares during the last quarter. Norges Bank bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $62,711,000. State Street Corp raised its position in McCormick & Company, Incorporated by 5.1% in the third quarter. State Street Corp now owns 15,522,816 shares of the company's stock valued at $1,038,632,000 after purchasing an additional 747,844 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in McCormick & Company, Incorporated in the third quarter valued at about $48,576,000. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on MKC shares. Barclays dropped their target price on McCormick & Company, Incorporated from $67.00 to $58.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 31st. Weiss Ratings reissued a "hold (c-)" rating on shares of McCormick & Company, Incorporated in a research note on Monday, April 27th. Stifel Nicolaus decreased their price target on McCormick & Company, Incorporated from $65.00 to $55.00 and set a "hold" rating for the company in a research note on Wednesday, April 1st. Jefferies Financial Group decreased their price target on McCormick & Company, Incorporated from $64.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, June 4th. Finally, Sanford C. Bernstein decreased their price target on McCormick & Company, Incorporated from $85.00 to $77.00 and set an "outperform" rating for the company in a research note on Tuesday, March 24th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $63.27.

McCormick & Company, Incorporated Stock Down 0.6%

Shares of NYSE:MKC opened at $48.95 on Friday. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 2.43 and a beta of 0.65. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 12-month low of $44.82 and a 12-month high of $78.16. The business's 50 day moving average is $49.22 and its 200 day moving average is $59.27.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. McCormick & Company, Incorporated's quarterly revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were given a $0.48 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 annualized dividend and a yield of 3.9%. McCormick & Company, Incorporated's payout ratio is currently 31.48%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Gavin Hattersley acquired 2,000 shares of the business's stock in a transaction on Friday, April 10th. The shares were acquired at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the transaction, the director owned 2,906 shares in the company, valued at approximately $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 10.60% of the company's stock.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated NYSE: MKC is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick's product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.

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