McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,748 shares of the company's stock after selling 3,344 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in McCormick & Company, Incorporated were worth $2,860,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in McCormick & Company, Incorporated by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock valued at $2,419,653,000 after buying an additional 303,973 shares during the last quarter. Geode Capital Management LLC boosted its holdings in McCormick & Company, Incorporated by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock valued at $458,114,000 after purchasing an additional 137,679 shares during the last quarter. Northern Trust Corp boosted its holdings in McCormick & Company, Incorporated by 16.8% in the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock valued at $281,573,000 after purchasing an additional 531,060 shares during the last quarter. Voya Investment Management LLC grew its stake in McCormick & Company, Incorporated by 10.2% during the 4th quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock valued at $269,060,000 after purchasing an additional 326,041 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in McCormick & Company, Incorporated by 6.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company's stock worth $245,114,000 after purchasing an additional 190,856 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MKC has been the subject of several research analyst reports. Citigroup reduced their target price 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. Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of "Hold" and a consensus price target of $84.13.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded down $1.09 on Friday, reaching $76.48. 3,714,997 shares of the company's stock were exchanged, compared to its average volume of 2,064,253. The business's 50-day moving average is $74.32 and its two-hundred day moving average is $76.74. The company has a quick ratio of 0.25, a current ratio of 0.65 and a debt-to-equity ratio of 0.57. McCormick & Company, Incorporated has a fifty-two week low of $69.00 and a fifty-two week high of $86.24. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 3.70 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. McCormick & Company, Incorporated's quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.35%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction that occurred on 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 owns 2,266 shares in the company, valued at approximately $184,497.72. This trade represents a 54.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. Insiders sold 60,392 shares of company stock worth $4,898,101 in the last 90 days. 23.80% of the stock is currently owned by company insiders.

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.