Whittier Trust Co. decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 43.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,046 shares of the company's stock after selling 4,668 shares during the quarter. Whittier Trust Co.'s holdings in McCormick & Company, Incorporated were worth $498,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of McCormick & Company, Incorporated by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock worth $2,419,653,000 after buying an additional 303,973 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of McCormick & Company, Incorporated by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock worth $458,114,000 after buying an additional 137,679 shares during the last quarter. Northern Trust Corp lifted its stake in shares of McCormick & Company, Incorporated by 16.8% during the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after buying an additional 531,060 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of McCormick & Company, Incorporated by 10.2% during the 4th quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock worth $269,060,000 after buying an additional 326,041 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in McCormick & Company, Incorporated by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company's stock worth $245,114,000 after purchasing an additional 190,856 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.
Insider Buying and Selling at McCormick & Company, Incorporated
In other news, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.80% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
MKC has been the subject of several analyst reports. Citigroup dropped their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, June 17th. UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price for the company. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of "Hold" and an average price target of $84.13.
Check Out Our Latest Analysis on MKC
McCormick & Company, Incorporated Price Performance
Shares of MKC stock traded down $0.68 during trading hours on Monday, reaching $70.74. The stock had a trading volume of 1,422,773 shares, compared to its average volume of 2,057,684. The stock's fifty day simple moving average is $73.69 and its 200 day simple moving average is $76.14. The firm has a market capitalization of $18.98 billion, a PE ratio of 24.46, a PEG ratio of 3.43 and a beta of 0.68. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 12 month low of $69.98 and a 12 month high of $86.24.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm posted $0.69 earnings per share. The business's revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.
McCormick & Company, Incorporated Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.
About McCormick & Company, Incorporated
(
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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