DLK Investment Management LLC reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 13.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,249 shares of the company's stock after selling 9,954 shares during the quarter. McCormick & Company, Incorporated comprises about 2.3% of DLK Investment Management LLC's investment portfolio, making the stock its 18th largest holding. DLK Investment Management LLC's holdings in McCormick & Company, Incorporated were worth $5,453,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of MKC. Sigma Planning Corp raised its stake in shares of McCormick & Company, Incorporated by 22.2% during the fourth quarter. Sigma Planning Corp now owns 5,562 shares of the company's stock valued at $424,000 after purchasing an additional 1,009 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in McCormick & Company, Incorporated by 3.0% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 47,844 shares of the company's stock worth $3,648,000 after acquiring an additional 1,400 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth about $374,000. Bryn Mawr Capital Management LLC raised its position in McCormick & Company, Incorporated by 35.1% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 9,837 shares of the company's stock worth $750,000 after acquiring an additional 2,554 shares in the last quarter. Finally, NewEdge Wealth LLC raised its position in McCormick & Company, Incorporated by 13.5% in the fourth quarter. NewEdge Wealth LLC now owns 16,263 shares of the company's stock worth $1,240,000 after acquiring an additional 1,935 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.
McCormick & Company, Incorporated Trading Down 1.4%
MKC traded down $1.09 during trading on Friday, reaching $76.48. The company had a trading volume of 3,714,997 shares, compared to its average volume of 2,041,058. The firm's 50-day simple moving average is $74.35 and its 200 day simple moving average is $76.63. The company has a market cap of $20.51 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 3.82 and a beta of 0.68. McCormick & Company, Incorporated has a 12-month low of $69.00 and a 12-month high of $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $1.66 billion for 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 was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.
McCormick & Company, Incorporated Dividend Announcement
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 paid 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 2.35%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.
Insider Buying and Selling
In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the transaction, the vice president now owns 2,266 shares of the company's stock, valued at $184,497.72. The trade was a 54.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This trade represents a 16.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. UBS Group assumed coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price target on the stock. Citigroup dropped their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. Finally, Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $84.13.
Check Out Our Latest Stock Report on McCormick & Company, Incorporated
McCormick & Company, Incorporated Company Profile
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Free Report)
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.
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