Boston Common Asset Management LLC Has $5.35 Million Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Boston Common Asset Management LLC decreased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 55.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,973 shares of the company's stock after selling 81,867 shares during the quarter. Boston Common Asset Management LLC's holdings in McCormick & Company, Incorporated were worth $5,348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Norges Bank purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth approximately $223,202,000. Select Equity Group L.P. purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth approximately $104,863,000. Balyasny Asset Management L.P. lifted its position in McCormick & Company, Incorporated by 47.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company's stock worth $216,771,000 after buying an additional 915,807 shares in the last quarter. Northern Trust Corp lifted its position in McCormick & Company, Incorporated by 16.8% in the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after buying an additional 531,060 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in McCormick & Company, Incorporated by 88.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company's stock worth $67,035,000 after buying an additional 412,074 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Up 0.1%

Shares of NYSE:MKC traded up $0.09 on Monday, reaching $72.82. The company had a trading volume of 859,541 shares, compared to its average volume of 2,306,609. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The stock has a 50-day moving average price of $75.52 and a 200 day moving average price of $77.14. The stock has a market capitalization of $19.53 billion, a P/E ratio of 24.86, a P/E/G ratio of 3.76 and a beta of 0.74. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the firm earned $0.63 EPS. McCormick & Company, Incorporated's quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.47%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Analyst Ratings Changes

Separately, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $83.14.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the firm's stock in a transaction 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 document filed with the SEC, which can be accessed through this link. Also, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares in the company, valued at $184,497.72. This represents a 54.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock worth $4,898,101 in the last quarter. 23.80% of the stock is currently owned by company insiders.

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.