Tobam Trims Position in McCormick & Company, Incorporated (NYSE:MKC)

Tobam cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 26.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,593 shares of the company's stock after selling 7,055 shares during the quarter. Tobam's holdings in McCormick & Company, Incorporated were worth $1,613,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MKC. Curio Wealth LLC purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $30,000. Twin Tree Management LP purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $33,000. Ameriflex Group Inc. purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $33,000. Lee Danner & Bass Inc. purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $37,000. Finally, Parvin Asset Management LLC purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $38,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the sale, the vice president now owns 2,266 shares of the company's stock, valued at $184,497.72. The trade was a 54.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, April 2nd. The stock was 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 in the company, 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. Insiders have sold a total of 60,392 shares of company stock valued at $4,898,101 in the last 90 days. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded down $1.88 during trading on Friday, reaching $73.93. The company had a trading volume of 1,993,848 shares, compared to its average volume of 2,045,570. The firm's 50-day simple moving average is $74.53 and its 200 day simple moving average is $76.98. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The firm has a market capitalization of $19.83 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 3.76 and a beta of 0.68. 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 (NYSE:MKC - Get Free Report) last released its quarterly 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 company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business posted $0.63 EPS. McCormick & Company, Incorporated's revenue was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared 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 of this dividend was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.43%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Analyst Upgrades and Downgrades

Separately, Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $85.50.

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.