McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB decreased its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 97.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,900 shares of the company's stock after selling 404,040 shares during the period. E. Ohman J or Asset Management AB's holdings in McCormick & Company, Incorporated were worth $897,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $223,202,000. Select Equity Group L.P. purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $104,863,000. Balyasny Asset Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 47.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company's stock worth $216,771,000 after purchasing an additional 915,807 shares in the last quarter. Northern Trust Corp increased its stake in shares of McCormick & Company, Incorporated by 16.8% during the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after purchasing an additional 531,060 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of McCormick & Company, Incorporated by 88.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company's stock worth $67,035,000 after purchasing an additional 412,074 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Analysts Set New Price Targets

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

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This trade represents a 16.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now directly owns 2,266 shares of the company's stock, valued at approximately $184,497.72. This trade represents a 54.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock worth $4,898,101 over the last quarter. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $74.22 on Friday. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The stock has a market capitalization of $19.90 billion, a P/E ratio of 25.33, a P/E/G ratio of 3.76 and a beta of 0.68. The firm's 50-day moving average is $74.70 and its two-hundred day moving average is $77.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

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.

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