McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 35.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,735 shares of the company's stock after selling 48,566 shares during the quarter. Toronto Dominion Bank's holdings in McCormick & Company, Incorporated were worth $6,765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MKC. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $30,000. Twin Tree Management LP bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Lee Danner & Bass Inc. acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $37,000. Parvin Asset Management LLC acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $38,000. Finally, Colonial Trust Co SC boosted its stake in shares of McCormick & Company, Incorporated by 69.0% during the 4th quarter. Colonial Trust Co SC now owns 566 shares of the company's stock worth $43,000 after buying an additional 231 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction that occurred on 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 document filed with the SEC, which is available at the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the transaction, the director now owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock valued at $4,898,101 over the last 90 days. 23.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One equities 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, McCormick & Company, Incorporated has an average rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated Price Performance

MKC stock traded up $0.09 during midday trading on Friday, reaching $72.64. The company had a trading volume of 3,262,713 shares, compared to its average volume of 2,041,684. 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 has a 1 year low of $66.88 and a 1 year high of $86.24. The firm has a 50-day moving average price of $75.52 and a 200-day moving average price of $77.12. The company has a market capitalization of $19.48 billion, a P/E ratio of 24.79, a P/E/G ratio of 3.76 and a beta of 0.74.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

McCormick & Company, Incorporated 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.