Impax Asset Management Group plc Lowers Stake in McCormick & Company, Incorporated (NYSE:MKC)

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

Several other institutional investors also recently modified their holdings of MKC. Curio Wealth LLC bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $30,000. Salem Investment Counselors Inc. lifted its holdings in McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after buying an additional 336 shares during the period. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Ameriflex Group Inc. acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Finally, Stonebridge Financial Group LLC lifted its holdings in McCormick & Company, Incorporated by 101.0% in the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after buying an additional 202 shares during the period. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Down 1.9%

Shares of MKC traded down $1.42 on Monday, reaching $73.28. The company's stock had a trading volume of 2,427,749 shares, compared to its average volume of 2,058,656. 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 twelve month low of $69.00 and a twelve month high of $86.24. The stock has a market capitalization of $19.67 billion, a PE ratio of 25.44, a PEG ratio of 3.61 and a beta of 0.68. The firm has a fifty day moving average of $74.41 and a 200-day moving average of $76.51.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

Insider Buying and Selling

In related news, insider Katherine Jenkins sold 7,642 shares of the firm's stock in a transaction that occurred 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

MKC has been the topic of several recent analyst reports. UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price on the stock. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, Citigroup dropped their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $84.13.

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.