Exchange Traded Concepts LLC Decreases Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Exchange Traded Concepts LLC trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 45.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,049 shares of the company's stock after selling 11,080 shares during the period. Exchange Traded Concepts LLC's holdings in McCormick & Company, Incorporated were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in McCormick & Company, Incorporated by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock worth $2,419,653,000 after buying an additional 303,973 shares during the last quarter. Geode Capital Management LLC increased its stake in McCormick & Company, Incorporated by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock valued at $458,114,000 after purchasing an additional 137,679 shares during the last quarter. Northern Trust Corp increased its stake in McCormick & Company, Incorporated by 16.8% in the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock valued at $281,573,000 after purchasing an additional 531,060 shares during the last quarter. Voya Investment Management LLC increased its stake in McCormick & Company, Incorporated by 10.2% in the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock valued at $269,060,000 after purchasing an additional 326,041 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in McCormick & Company, Incorporated by 6.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company's stock valued at $245,114,000 after purchasing an additional 190,856 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $73.15 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.25 and a debt-to-equity ratio of 0.57. The firm has a market cap of $19.62 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 3.67 and a beta of 0.68. The company's 50 day simple moving average is $74.44 and its 200-day simple moving average is $76.89. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

Insider Buying and Selling

In related news, VP Gregory Repas sold 2,750 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now directly owns 2,266 shares of the company's stock, valued at $184,497.72. This trade represents a 54.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. Insiders sold a total of 60,392 shares of company stock valued at $4,898,101 over the last three months. 23.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. 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 note on Tuesday. Finally, UBS Group assumed coverage on shares of McCormick & Company, Incorporated in a research note on Monday. They issued a "neutral" rating and a $83.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and an average target price of $84.13.

McCormick & Company, Incorporated 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.

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