Massachusetts Financial Services Co. MA Decreases Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

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

Other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 3.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company's stock valued at $427,000 after acquiring an additional 169 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of McCormick & Company, Incorporated by 12.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,060 shares of the company's stock valued at $157,000 after purchasing an additional 220 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 1.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 26,150 shares of the company's stock worth $1,994,000 after buying an additional 488 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of McCormick & Company, Incorporated by 1.0% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 54,670 shares of the company's stock worth $4,125,000 after buying an additional 529 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $1,456,000. Institutional investors own 79.74% of the company's stock.

Insider Buying and Selling

In related news, insider Katherine Jenkins sold 7,642 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 23.80% of the company's stock.

Analysts Set New Price Targets

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

McCormick & Company, Incorporated Price Performance

Shares of MKC traded down $0.17 during mid-day trading on Friday, reaching $71.55. The stock had a trading volume of 709,798 shares, compared to its average volume of 2,054,526. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 3.43 and a beta of 0.68. McCormick & Company, Incorporated has a 12 month low of $69.98 and a 12 month high of $86.24. The business has a fifty day moving average of $73.79 and a 200 day moving average of $76.18. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68.

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

McCormick & Company, Incorporated Announces Dividend

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 issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.

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.