McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc reduced its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 19.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 547,368 shares of the company's stock after selling 135,600 shares during the period. Impax Asset Management Group plc owned approximately 0.20% of McCormick & Company, Incorporated worth $45,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MKC. Curio Wealth LLC acquired a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $30,000. Salem Investment Counselors Inc. grew its stake in McCormick & Company, Incorporated by 610.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after purchasing an additional 336 shares during the last quarter. Twin Tree Management LP purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at about $33,000. Ameriflex Group Inc. purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at about $33,000. Finally, Stonebridge Financial Group LLC grew its stake in McCormick & Company, Incorporated by 101.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after purchasing an additional 202 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. 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 price target on the stock. Finally, 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 research note on Tuesday, June 17th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and a consensus target price of $84.13.

Insiders Place Their Bets

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

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded down $1.78 during mid-day trading on Monday, reaching $73.37. The company had a trading volume of 3,419,925 shares, compared to its average volume of 2,062,115. McCormick & Company, Incorporated has a 52-week low of $69.00 and a 52-week high of $86.24. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $19.69 billion, a P/E ratio of 25.48, a PEG ratio of 3.61 and a beta of 0.68. The stock has a 50 day moving average of $74.38 and a two-hundred day moving average of $76.47.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The firm 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 company's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 earnings per share. On average, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.45%. McCormick & Company, Incorporated's payout ratio is 62.50%.

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.