Toronto Dominion Bank Decreases Position in McCormick & Company, Incorporated (NYSE:MKC)

Toronto Dominion Bank cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 88,735 shares of the company's stock after selling 48,566 shares during the quarter. Toronto Dominion Bank's holdings in McCormick & Company, Incorporated were worth $6,765,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Select Equity Group L.P. acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $104,863,000. Snowden Capital Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 35.6% in the fourth quarter. Snowden Capital Advisors LLC now owns 7,246 shares of the company's stock worth $556,000 after acquiring an additional 1,904 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 12.5% in the fourth quarter. Rafferty Asset Management LLC now owns 21,890 shares of the company's stock worth $1,669,000 after acquiring an additional 2,438 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $1,445,000. Finally, Quantinno Capital Management LP raised its holdings in shares of McCormick & Company, Incorporated by 25.3% in the fourth quarter. Quantinno Capital Management LP now owns 63,988 shares of the company's stock worth $4,878,000 after acquiring an additional 12,937 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, 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 transaction of $4,090,500.00. Following the completion of the sale, the director now owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. The trade was a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of the company'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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,392 shares of company stock valued at $4,898,101. Company insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Trading Up 0.9%

Shares of NYSE:MKC traded up $0.63 during midday trading on Tuesday, reaching $71.74. The company's stock had a trading volume of 382,503 shares, compared to its average volume of 2,027,088. The firm has a market cap of $19.24 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The business has a 50 day moving average price of $76.19 and a 200 day moving average price of $77.26.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted 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 firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same period last year, the firm posted $0.63 EPS. McCormick & Company, Incorporated's revenue was up .2% on a year-over-year basis. Research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.51%. 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

MKC has been the subject of a number of analyst reports. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barclays lowered their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $83.14.

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.