Hamel Associates Inc. Sells 7,585 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Hamel Associates Inc. reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,100 shares of the company's stock after selling 7,585 shares during the quarter. Hamel Associates Inc.'s holdings in McCormick & Company, Incorporated were worth $420,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MKC. Norges Bank bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $223,202,000. Select Equity Group L.P. acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth about $104,863,000. Balyasny Asset Management L.P. raised its position in McCormick & Company, Incorporated by 47.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company's stock worth $216,771,000 after acquiring an additional 915,807 shares in the last quarter. Northern Trust Corp lifted its holdings in McCormick & Company, Incorporated by 16.8% in the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock valued at $281,573,000 after acquiring an additional 531,060 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of McCormick & Company, Incorporated by 88.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company's stock valued at $67,035,000 after purchasing an additional 412,074 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MKC has been the topic of a number of research reports. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Citigroup dropped their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, June 17th. Finally, UBS Group started coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $84.13.

Insider Activity

In other news, insider Katherine Jenkins sold 7,642 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Up 1.0%

McCormick & Company, Incorporated stock traded up $0.70 during mid-day trading on Monday, hitting $72.27. The company's stock had a trading volume of 797,542 shares, compared to its average volume of 2,300,219. McCormick & Company, Incorporated has a 52-week low of $69.98 and a 52-week high of $86.24. The company has a market cap of $19.40 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 3.44 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The firm's 50 day moving average is $73.37 and its 200 day moving average is $76.04.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, 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 announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were given a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.49%. McCormick & Company, Incorporated's payout ratio is 62.50%.

About McCormick & Company, Incorporated

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.