Financial Counselors Inc. Decreases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Financial Counselors Inc. lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,350 shares of the company's stock after selling 4,871 shares during the quarter. 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 institutional investors also recently modified their holdings of the business. Wayfinding Financial LLC bought a new stake in McCormick & Company, Incorporated during the first quarter worth about $30,000. Salem Investment Counselors Inc. lifted its position in McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after purchasing an additional 336 shares during the period. Curio Wealth LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth about $30,000. Stonebridge Financial Group LLC raised its stake in McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after acquiring an additional 202 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Institutional investors own 79.74% of the company's stock.

Insider Activity at McCormick & Company, Incorporated

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

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group assumed coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 target price for the company. Citigroup lowered their price objective on 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. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of "Hold" and an average target price of $84.13.

McCormick & Company, Incorporated Trading Down 0.7%

NYSE:MKC traded down $0.52 on Friday, reaching $71.92. 1,857,648 shares of the stock traded hands, compared to its average volume of 2,070,522. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 3.48 and a beta of 0.68. The company's 50 day moving average is $74.10 and its 200-day moving average is $76.33. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 1-year low of $69.98 and a 1-year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the prior year, the business earned $0.69 EPS. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.50%. The ex-dividend date is Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.

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.