McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 13.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,495 shares of the company's stock after selling 27,219 shares during the period. Handelsbanken Fonder AB owned 0.07% of McCormick & Company, Incorporated worth $15,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. increased its stake in McCormick & Company, Incorporated by 2.8% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock worth $382,000 after buying an additional 137 shares during the period. Sage Capital Advisors llc increased its stake in McCormick & Company, Incorporated by 2.8% during the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock worth $413,000 after buying an additional 137 shares during the period. Empower Advisory Group LLC increased its stake in McCormick & Company, Incorporated by 1.7% during the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock worth $641,000 after buying an additional 138 shares during the period. Bessemer Group Inc. increased its stake in McCormick & Company, Incorporated by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock worth $3,278,000 after buying an additional 139 shares during the period. Finally, ST Germain D J Co. Inc. increased its stake in McCormick & Company, Incorporated by 1.8% during the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock worth $643,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the sale, the director now directly owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This represents a 16.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Katherine Jenkins sold 7,642 shares of the company's 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 disclosure for this sale can be found here. Insiders sold 60,392 shares of company stock valued at $4,898,101 in the last ninety days. Company insiders own 23.80% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of "Moderate Buy" and an average target price of $85.50.

McCormick & Company, Incorporated Stock Down 2.5%

Shares of MKC traded down $1.88 during midday trading on Friday, hitting $73.93. The company had a trading volume of 1,993,848 shares, compared to its average volume of 2,045,570. The company's 50 day moving average price is $74.53 and its 200 day moving average price is $76.98. The stock has a market cap of $19.83 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 3.76 and a beta of 0.68. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company's quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's payout ratio is 61.86%.

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.