Franklin Resources Inc. Reduces Stake in McCormick & Company, Incorporated $MKC

Franklin Resources Inc. cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,082,691 shares of the company's stock after selling 47,143 shares during the period. Franklin Resources Inc. owned approximately 1.15% of McCormick & Company, Incorporated worth $209,962,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators raised its stake in McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company's stock worth $28,000 after purchasing an additional 164 shares during the period. GoalVest Advisory LLC purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth about $28,000. Legacy Wealth Managment LLC ID purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth about $40,000. Elyxium Wealth LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $43,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $56,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Up 2.2%

Shares of MKC stock opened at $48.65 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The stock has a market capitalization of $13.07 billion, a P/E ratio of 7.97, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65. The company has a 50 day moving average price of $49.31 and a 200 day moving average price of $59.60. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. The firm had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The business's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. Equities research analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a $0.48 dividend. The ex-dividend date was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.9%. McCormick & Company, Incorporated's payout ratio is 31.48%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MKC. JPMorgan Chase & Co. reduced their price target on shares of McCormick & Company, Incorporated from $67.00 to $64.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 1st. Jefferies Financial Group reduced their price target on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, June 4th. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Stifel Nicolaus reduced their price target on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a "hold" rating on the stock in a research note on Wednesday, April 1st. Finally, BNP Paribas Exane reduced their price target on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 1st. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of "Hold" and a consensus target price of $63.36.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Gavin Hattersley acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the acquisition, the director owned 2,906 shares of the company's stock, valued at approximately $153,959.88. This trade represents a 220.75% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.60% of the company's stock.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated NYSE: MKC is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick's product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.