Crestwood Advisors Group LLC Sells 81,455 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Crestwood Advisors Group LLC cut its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 14.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 487,779 shares of the company's stock after selling 81,455 shares during the quarter. Crestwood Advisors Group LLC owned about 0.18% of McCormick & Company, Incorporated worth $40,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $30,000. Salem Investment Counselors Inc. boosted its stake in shares of McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after acquiring an additional 336 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth approximately $33,000. Stonebridge Financial Group LLC boosted its stake in shares of McCormick & Company, Incorporated by 101.0% in the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after acquiring an additional 202 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth approximately $37,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MKC has been the subject of several analyst reports. Citigroup lowered their price objective on 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. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, UBS Group began coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective for the company. 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. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and a consensus target price of $84.13.

Insider Transactions at McCormick & Company, Incorporated

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 is available through the SEC website. Company insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded down $0.68 during midday trading on Monday, reaching $70.74. The company had a trading volume of 1,422,773 shares, compared to its average volume of 2,057,684. The stock has a fifty day simple moving average of $73.69 and a 200 day simple moving average of $76.14. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 1-year low of $69.98 and a 1-year high of $86.24. The company has a market capitalization of $18.98 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 3.43 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced 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. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. As a group, equities research analysts forecast 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. Shareholders of record on Monday, July 7th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 62.50%.

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.