Boston Trust Walden Corp Has $72.84 Million Stock Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Boston Trust Walden Corp trimmed its stake in McCormick by 3.7%, selling 40,519 shares to finish the quarter with 1,069,435 shares worth $72.84 million (0.40% of the company).
• McCormick beat quarterly estimates with $0.66 EPS vs. $0.61 expected and $1.87B revenue vs. $1.79B (revenue +16.7% YoY), and declared a quarterly dividend of $0.48 (annualized $1.92, ~3.7% yield).
• About 79.74% of MKC is owned by institutional investors, and analysts have a consensus "Hold" rating with an average price target of $64.27 after several recent cuts.

Boston Trust Walden Corp lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,069,435 shares of the company's stock after selling 40,519 shares during the quarter. Boston Trust Walden Corp owned 0.40% of McCormick & Company, Incorporated worth $72,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of 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. Invesco Ltd. raised its holdings in shares of McCormick & Company, Incorporated by 66.7% in the third quarter. Invesco Ltd. now owns 6,232,337 shares of the company's stock valued at $417,006,000 after purchasing an additional 2,494,544 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of 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. ProShare Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 13.1% in the third quarter. ProShare Advisors LLC now owns 2,389,571 shares of the company's stock valued at $159,886,000 after purchasing an additional 277,257 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of McCormick & Company, Incorporated by 3.3% in the third quarter. Legal & General Group Plc now owns 1,647,175 shares of the company's stock valued at $110,212,000 after purchasing an additional 52,488 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 1.7%

NYSE:MKC opened at $51.98 on Wednesday. The firm has a market capitalization of $13.97 billion, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 2.59 and a beta of 0.71. McCormick & Company, Incorporated has a twelve month low of $47.52 and a twelve month high of $78.16. The stock's 50 day moving average price is $59.35 and its two-hundred day moving average price is $63.73. 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 (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The business's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. Equities research analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Investors of record on Monday, April 20th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.7%. McCormick & Company, Incorporated's payout ratio is presently 31.48%.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, March 30th. TD Cowen lowered their price objective on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a "buy" rating on the stock in a report on Wednesday, March 25th. Zacks Research raised McCormick & Company, Incorporated from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Sanford C. Bernstein lowered their price target on McCormick & Company, Incorporated from $85.00 to $77.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 24th. Finally, Jefferies Financial Group lowered their price target on McCormick & Company, Incorporated from $81.00 to $64.00 and set a "buy" rating on the stock in a research report on Wednesday, April 1st. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $64.27.

Insiders Place Their Bets

In related news, Director Michael D. Mangan sold 5,000 shares of the business's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $67.92, for a total transaction of $339,600.00. Following the transaction, the director directly owned 43,029 shares of the company's stock, valued at approximately $2,922,529.68. The trade was a 10.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gavin Hattersley bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The shares were acquired at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the acquisition, the director directly owned 2,906 shares in the company, valued at $153,959.88. The trade was a 220.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 65,000 shares of company stock valued at $4,575,800 over the last 90 days. 10.60% of the stock is owned by insiders.

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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