Mn Services Vermogensbeheer B.V. Sells 7,100 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Mn Services Vermogensbeheer B.V. reduced its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,990 shares of the company's stock after selling 7,100 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in McCormick & Company, Incorporated were worth $7,489,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in McCormick & Company, Incorporated by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock valued at $2,419,653,000 after acquiring an additional 303,973 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of McCormick & Company, Incorporated by 2.3% in the 4th 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 in the last quarter. Northern Trust Corp lifted its position in shares of McCormick & Company, Incorporated by 16.8% during the fourth 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 during the last quarter. Voya Investment Management LLC grew its stake in McCormick & Company, Incorporated by 10.2% in the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock worth $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% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company's stock valued at $245,114,000 after buying an additional 190,856 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock traded up $0.19 during mid-day trading on Wednesday, reaching $73.15. The company's stock had a trading volume of 1,881,643 shares, compared to its average volume of 2,043,033. The firm has a market cap of $19.62 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 3.67 and a beta of 0.68. The business has a 50 day moving average price of $74.50 and a 200-day moving average price of $76.92. The company has a current ratio of 0.65, a quick ratio of 0.25 and a debt-to-equity ratio of 0.57. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24.

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 firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.67%. McCormick & Company, Incorporated's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. Sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.46%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MKC. 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 report on Tuesday. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, UBS Group assumed coverage on McCormick & Company, Incorporated in a report on Monday. They issued a "neutral" rating and a $83.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $84.13.

Insider Buying and Selling

In other news, insider Katherine Jenkins sold 7,642 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction dated 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. This represents a 16.81% decrease in their position. The disclosure for this sale can be found here. Insiders 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 company insiders.

About McCormick & Company, Incorporated

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.