Mawer Investment Management Ltd. Sells 3,719 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Mawer Investment Management Ltd. reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 0.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 536,648 shares of the company's stock after selling 3,719 shares during the quarter. Mawer Investment Management Ltd. owned about 0.20% of McCormick & Company, Incorporated worth $44,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. raised its holdings in McCormick & Company, Incorporated by 5.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,228 shares of the company's stock worth $348,000 after purchasing an additional 202 shares during the last quarter. Norden Group LLC raised its holdings in McCormick & Company, Incorporated by 11.8% during the 1st quarter. Norden Group LLC now owns 11,777 shares of the company's stock worth $969,000 after purchasing an additional 1,241 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of McCormick & Company, Incorporated by 355.9% in the 1st quarter. Mackenzie Financial Corp now owns 107,221 shares of the company's stock valued at $8,825,000 after acquiring an additional 83,700 shares during the last quarter. Portland Global Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 0.9% in the 1st quarter. Portland Global Advisors LLC now owns 52,593 shares of the company's stock valued at $4,329,000 after acquiring an additional 454 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of McCormick & Company, Incorporated by 4.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,401 shares of the company's stock valued at $9,169,000 after acquiring an additional 4,596 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on MKC shares. UBS Group started coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 price target for the company. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Citigroup lowered their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.13.

Insider Transactions at McCormick & Company, Incorporated

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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $71.59 on Tuesday. The business has a 50 day simple moving average of $73.32 and a 200 day simple moving average of $76.04. McCormick & Company, Incorporated has a 52-week low of $69.98 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 3.44 and a beta of 0.68.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the prior year, the business earned $0.69 EPS. McCormick & Company, Incorporated's revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.51%. McCormick & Company, Incorporated's payout ratio is 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.

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