CWA Asset Management Group LLC Sells 24,238 Shares of McCormick & Company, Incorporated (NYSE:MKC)

CWA Asset Management Group LLC trimmed its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 86.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,645 shares of the company's stock after selling 24,238 shares during the period. CWA Asset Management Group LLC's holdings in McCormick & Company, Incorporated were worth $300,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MKC. Principal Securities Inc. grew its position in McCormick & Company, Incorporated by 4.1% in the fourth quarter. Principal Securities Inc. now owns 5,322 shares of the company's stock worth $406,000 after acquiring an additional 208 shares in the last quarter. D.A. Davidson & CO. grew its position in McCormick & Company, Incorporated by 54.2% in the fourth quarter. D.A. Davidson & CO. now owns 21,973 shares of the company's stock worth $1,675,000 after acquiring an additional 7,720 shares in the last quarter. Alberta Investment Management Corp purchased a new position in McCormick & Company, Incorporated in the fourth quarter worth $1,593,000. Handelsbanken Fonder AB grew its position in McCormick & Company, Incorporated by 24.5% in the fourth quarter. Handelsbanken Fonder AB now owns 209,714 shares of the company's stock worth $15,989,000 after acquiring an additional 41,328 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in McCormick & Company, Incorporated by 20.7% in the fourth quarter. Concurrent Investment Advisors LLC now owns 5,911 shares of the company's stock worth $451,000 after purchasing an additional 1,015 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on MKC shares. Citigroup lowered their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, June 17th. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, UBS Group started coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $84.13.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the transaction, the director now owns 247,437 shares in the company, valued at approximately $20,242,820.97. The trade was a 16.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,392 shares of company stock worth $4,898,101. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 0.3%

Shares of NYSE:MKC traded down $0.23 during trading on Friday, reaching $72.98. 2,803,694 shares of the stock traded hands, compared to its average volume of 2,046,082. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.25 and a current ratio of 0.65. The stock has a 50-day moving average of $74.34 and a two-hundred day moving average of $76.81. The stock has a market cap of $19.57 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 3.68 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.67%. The company had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The company's revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date 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 61.86%.

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.