OMERS ADMINISTRATION Corp Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

OMERS ADMINISTRATION Corp lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 29.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,519 shares of the company's stock after selling 4,422 shares during the period. OMERS ADMINISTRATION Corp's holdings in McCormick & Company, Incorporated were worth $802,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its stake in McCormick & Company, Incorporated by 146.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 48,298 shares of the company's stock valued at $3,682,000 after acquiring an additional 28,736 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in McCormick & Company, Incorporated by 12.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,652 shares of the company's stock valued at $583,000 after acquiring an additional 851 shares during the last quarter. Ritholtz Wealth Management increased its stake in McCormick & Company, Incorporated by 1.6% in the fourth quarter. Ritholtz Wealth Management now owns 19,785 shares of the company's stock valued at $1,508,000 after acquiring an additional 303 shares during the last quarter. Avanza Fonder AB bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at $1,893,000. Finally, Merit Financial Group LLC increased its stake in McCormick & Company, Incorporated by 19.1% in the fourth quarter. Merit Financial Group LLC now owns 9,772 shares of the company's stock valued at $745,000 after acquiring an additional 1,569 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Down 0.3%

Shares of NYSE:MKC traded down $0.18 on Friday, reaching $71.13. 3,700,794 shares of the company traded hands, compared to its average volume of 2,029,577. The business's 50-day simple moving average is $76.39 and its 200 day simple moving average is $77.29. 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 $19.08 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the business posted $0.63 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts anticipate 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. Stockholders of record on Monday, April 7th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.53%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 61.86%.

Analyst Ratings Changes

MKC has been the topic of a number of research analyst reports. Barclays reduced their target price on 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. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. increased their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have issued 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 a consensus rating of "Hold" and a consensus price target of $83.14.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the sale, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This represents a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is currently owned by insiders.

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.