Massachusetts Financial Services Co. MA Sells 85,874 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Massachusetts Financial Services Co. MA decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,542,199 shares of the company's stock after selling 85,874 shares during the period. Massachusetts Financial Services Co. MA owned about 1.32% of McCormick & Company, Incorporated worth $291,558,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Savvy Advisors Inc. bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $466,000. Sowell Financial Services LLC bought a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $260,000. Somerville Kurt F raised its stake in McCormick & Company, Incorporated by 34.2% in the fourth quarter. Somerville Kurt F now owns 96,074 shares of the company's stock valued at $7,325,000 after buying an additional 24,467 shares during the period. IFM Investors Pty Ltd raised its stake in McCormick & Company, Incorporated by 13.3% in the first quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company's stock valued at $4,091,000 after buying an additional 5,829 shares during the period. Finally, Dempze Nancy E raised its stake in McCormick & Company, Incorporated by 28.4% in the fourth quarter. Dempze Nancy E now owns 26,337 shares of the company's stock valued at $2,008,000 after buying an additional 5,833 shares during the period. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

NYSE:MKC traded up $0.62 during trading hours on Wednesday, reaching $71.37. 1,839,591 shares of the company were exchanged, compared to its average volume of 2,063,288. The company has a market capitalization of $19.15 billion, a P/E ratio of 24.78, a P/E/G ratio of 3.40 and a beta of 0.68. McCormick & Company, Incorporated has a 1-year low of $69.98 and a 1-year high of $86.24. 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 business has a 50 day moving average of $73.88 and a 200 day moving average of $76.20.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors 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 yield of 2.52%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on MKC. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. UBS Group began coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price on the stock. Finally, Citigroup decreased their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $84.13.

McCormick & Company, Incorporated 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.