Nuveen Asset Management LLC Sells 26,253 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Nuveen Asset Management LLC reduced its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 618,350 shares of the company's stock after selling 26,253 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.23% of McCormick & Company, Incorporated worth $47,143,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MKC. International Private Wealth Advisors LLC lifted its position in shares of McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company's stock valued at $276,000 after acquiring an additional 136 shares during the period. Hazlett Burt & Watson Inc. grew its position in McCormick & Company, Incorporated by 2.8% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock valued at $382,000 after buying an additional 137 shares during the period. Empower Advisory Group LLC grew its position in McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock valued at $641,000 after buying an additional 138 shares during the period. Bessemer Group Inc. boosted its position in McCormick & Company, Incorporated by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock worth $3,278,000 after purchasing an additional 139 shares during the period. Finally, Hunter Associates Investment Management LLC boosted its position in McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company's stock worth $954,000 after purchasing an additional 153 shares during the period. 79.74% of the stock is owned by institutional investors.

Insider Activity

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the business'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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction dated 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 completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,392 shares of company stock worth $4,898,101. Corporate insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Stock Down 1.5%

Shares of McCormick & Company, Incorporated stock opened at $74.30 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The stock has a market capitalization of $19.93 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 3.76 and a beta of 0.74. The company's 50 day moving average price is $77.09 and its 200-day moving average price is $77.45.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share 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 the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business's revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MKC. JPMorgan Chase & Co. increased their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. Barclays lowered their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $83.14.

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.

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