Siemens Fonds Invest GmbH Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Siemens Fonds Invest GmbH cut its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 91.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 419 shares of the company's stock after selling 4,263 shares during the period. Siemens Fonds Invest GmbH's holdings in McCormick & Company, Incorporated were worth $32,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Savvy Advisors Inc. purchased a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $466,000. Somerville Kurt F lifted its position in McCormick & Company, Incorporated by 34.2% during the fourth quarter. Somerville Kurt F now owns 96,074 shares of the company's stock valued at $7,325,000 after purchasing an additional 24,467 shares during the period. DJE Kapital AG purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $4,228,000. SBI Securities Co. Ltd. acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth about $234,000. Finally, Asset Management One Co. Ltd. raised its stake in shares of McCormick & Company, Incorporated by 16.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company's stock valued at $10,547,000 after buying an additional 19,491 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on MKC shares. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barclays dropped their price objective 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, JPMorgan Chase & Co. boosted their target price on shares of 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 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.com, McCormick & Company, Incorporated has an average rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated Stock Down 1.5%

Shares of MKC opened at $74.30 on Tuesday. 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 12 month low of $66.88 and a 12 month high of $86.24. The stock's 50 day moving average is $77.09 and its two-hundred day moving average is $77.45. The firm has a market cap of $19.93 billion, a P/E ratio of 25.36, a PEG ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results 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 business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the business earned $0.63 EPS. The company's quarterly revenue was up .2% on a year-over-year basis. Analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.42%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 61.86%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on 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 owns 247,437 shares of the company's stock, valued at $20,242,820.97. The trade was a 16.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of the company's stock in a transaction on 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. In the last three months, insiders sold 60,392 shares of company stock worth $4,898,101. Corporate insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.