Financial Counselors Inc. Has $9.25 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Financial Counselors Inc. trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,350 shares of the company's stock after selling 4,871 shares during the period. Financial Counselors Inc.'s holdings in McCormick & Company, Incorporated were worth $9,248,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MKC. Norges Bank acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $223,202,000. Select Equity Group L.P. acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $104,863,000. Balyasny Asset Management L.P. raised its position in shares of McCormick & Company, Incorporated by 47.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company's stock valued at $216,771,000 after buying an additional 915,807 shares during the last quarter. Northern Trust Corp raised its position in shares of McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock valued at $281,573,000 after buying an additional 531,060 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of McCormick & Company, Incorporated by 88.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company's stock valued at $67,035,000 after buying an additional 412,074 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MKC has been the subject of a number of research analyst reports. Citigroup cut their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, June 17th. UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective for the company. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Argus cut shares of 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, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $84.13.

McCormick & Company, Incorporated Price Performance

MKC traded up $0.15 during midday trading on Thursday, reaching $72.36. 957,507 shares of the company's stock were exchanged, compared to its average volume of 2,067,499. The firm has a market capitalization of $19.42 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 3.51 and a beta of 0.68. The business has a 50-day simple moving average of $74.23 and a two-hundred day simple moving average of $76.41. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a one year low of $69.98 and a one year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated's payout ratio is 62.50%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 7,642 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.80% of the company's stock.

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.