Robeco Institutional Asset Management B.V. Lowers Position in McCormick & Company, Incorporated (NYSE:MKC)

Robeco Institutional Asset Management B.V. lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 84.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,869 shares of the company's stock after selling 379,001 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in McCormick & Company, Incorporated were worth $5,833,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Savvy Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $466,000. Sowell Financial Services LLC acquired a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $260,000. Somerville Kurt F grew its holdings in McCormick & Company, Incorporated by 34.2% during the 4th quarter. Somerville Kurt F now owns 96,074 shares of the company's stock worth $7,325,000 after acquiring an additional 24,467 shares during the last quarter. DJE Kapital AG bought a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $4,228,000. Finally, SBI Securities Co. Ltd. acquired a new position in McCormick & Company, Incorporated in the 4th quarter valued at approximately $234,000. Institutional investors own 79.74% of the company's stock.

Wall Street Analyst Weigh In

MKC has been the topic of a number of recent research reports. Citigroup cut their price target 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. UBS Group initiated 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. Finally, Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $84.13.

McCormick & Company, Incorporated Stock Down 1.7%

Shares of MKC stock traded down $1.29 on Friday, reaching $75.28. 1,785,186 shares of the company were exchanged, compared to its average volume of 2,054,643. 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 company has a 50-day moving average of $74.40 and a 200-day moving average of $76.57. The company has a market cap of $20.20 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.68 and a beta of 0.68. McCormick & Company, Incorporated has a one year low of $69.00 and a one year high of $86.24.

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 return on equity of 14.43% and a net margin of 11.50%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business earned $0.69 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. Analysts anticipate 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 given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction on Monday, May 12th. The shares were 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 accessible through the SEC website. Insiders own 23.80% of the company's stock.

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.