Rockingstone Advisors LLC lessened its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 18.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,567 shares of the company's stock after selling 6,005 shares during the quarter. Rockingstone Advisors LLC's holdings in McCormick & Company, Incorporated were worth $2,187,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $30,000. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Ameriflex Group Inc. bought a new position in McCormick & Company, Incorporated during the fourth quarter valued at about $33,000. Lee Danner & Bass Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth about $37,000. Finally, Parvin Asset Management LLC bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 79.74% of the company's stock.
McCormick & Company, Incorporated Stock Performance
NYSE:MKC traded up $0.09 during trading hours on Thursday, hitting $75.72. 406,887 shares of the company traded hands, compared to its average volume of 2,036,940. 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 has a twelve month low of $66.88 and a twelve month high of $86.24. The firm has a 50-day moving average of $74.46 and a 200 day moving average of $77.03. The stock has a market capitalization of $20.31 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 3.76 and a beta of 0.68.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its 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). 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 during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. On average, 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. Investors of record on Monday, April 7th were paid a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.38%. McCormick & Company, Incorporated's payout ratio is currently 61.86%.
Insider Buying and Selling
In other McCormick & Company, Incorporated news, 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 transaction of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This represents a 16.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. 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 quarter. Corporate insiders own 23.80% of the company's stock.
Wall Street Analyst Weigh In
Separately, Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $83.14.
Check Out Our Latest Analysis on McCormick & Company, Incorporated
McCormick & Company, Incorporated Company Profile
(
Free Report)
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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