Trust Co. of Oklahoma Sells 6,455 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Trust Co. of Oklahoma lowered its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 28.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,397 shares of the company's stock after selling 6,455 shares during the quarter. Trust Co. of Oklahoma's holdings in McCormick & Company, Incorporated were worth $1,350,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. International Private Wealth Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 3.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company's stock worth $276,000 after purchasing an additional 136 shares during the period. Hazlett Burt & Watson Inc. grew its position in McCormick & Company, Incorporated by 2.8% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock worth $382,000 after purchasing an additional 137 shares during the last quarter. Sage Capital Advisors llc raised its holdings in shares of McCormick & Company, Incorporated by 2.8% during the first quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock valued at $413,000 after buying an additional 137 shares during the last quarter. Empower Advisory Group LLC grew its holdings in McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock worth $641,000 after buying an additional 138 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of McCormick & Company, Incorporated by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock worth $3,278,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Analysts Set New Price Targets

Separately, Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $83.14.

Insiders Place Their Bets

In other news, VP Gregory Repas sold 2,750 shares of the business's 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 transaction, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value 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. The trade was a 16.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,392 shares of company stock worth $4,898,101. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC traded up $0.33 on Tuesday, reaching $75.55. 2,017,090 shares of the company traded hands, compared to its average volume of 2,040,043. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock has a market capitalization of $20.26 billion, a PE ratio of 25.78, a P/E/G ratio of 3.76 and a beta of 0.68. The company's 50 day moving average is $74.58 and its 200-day moving average is $77.05. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. McCormick & Company, Incorporated's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. As a group, analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.38%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's payout ratio is 61.86%.

About McCormick & Company, Incorporated

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.