Centre Asset Management LLC Sells 44,311 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Centre Asset Management LLC lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,071 shares of the company's stock after selling 44,311 shares during the period. McCormick & Company, Incorporated comprises about 2.3% of Centre Asset Management LLC's holdings, making the stock its 14th largest holding. Centre Asset Management LLC's holdings in McCormick & Company, Incorporated were worth $8,895,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MKC. Curio Wealth LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $30,000. Twin Tree Management LP bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $33,000. Ameriflex Group Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $33,000. Lee Danner & Bass Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $37,000. Finally, Parvin Asset Management LLC bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $38,000. Institutional investors own 79.74% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $83.14.

Insider Buying and Selling

In other news, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. This trade represents a 54.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the transaction, the director now owns 247,437 shares in the company, valued at approximately $20,242,820.97. This trade represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock worth $4,898,101 in the last 90 days. Insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Trading Up 0.0%

MKC traded up $0.02 during midday trading on Monday, reaching $72.75. 557,331 shares of the company's stock traded hands, compared to its average volume of 2,036,173. The firm has a fifty day moving average of $75.52 and a two-hundred day moving average of $77.14. The stock has a market capitalization of $19.51 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 3.76 and a beta of 0.74. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the company posted $0.63 EPS. The firm's revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate 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 was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.47%. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

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.