McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 37.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,878 shares of the company's stock after selling 7,764 shares during the quarter. Pacer Advisors Inc.'s holdings in McCormick & Company, Incorporated were worth $1,060,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC purchased a new position in McCormick & Company, Incorporated in the 1st quarter worth about $30,000. Salem Investment Counselors Inc. raised its position in McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after buying an additional 336 shares during the last quarter. Stonebridge Financial Group LLC grew its stake in shares of McCormick & Company, Incorporated by 101.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after purchasing an additional 202 shares during the period. Ameriflex Group Inc. bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $33,000. Finally, Parvin Asset Management LLC bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC traded down $0.33 during trading on Friday, reaching $70.30. The stock had a trading volume of 1,401,903 shares, compared to its average volume of 2,092,515. The business has a fifty day moving average price of $73.24 and a 200-day moving average price of $75.97. The stock has a market cap of $18.87 billion, a PE ratio of 24.41, a PEG ratio of 3.40 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. McCormick & Company, Incorporated has a 1-year low of $69.84 and a 1-year high of $86.24.

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 analysts' consensus estimates of $0.65 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. On average, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.

Analysts Set New Price Targets

Several research firms have weighed in on MKC. Citigroup dropped their price target 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. UBS Group initiated coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price on the stock. Stifel Nicolaus cut their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research note on Tuesday. Finally, Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $83.00.

Insider Activity

In related news, insider Katherine Jenkins sold 7,642 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.