Williams Jones Wealth Management LLC. Cuts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Williams Jones Wealth Management LLC. cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 810,032 shares of the company's stock after selling 26,884 shares during the quarter. Williams Jones Wealth Management LLC. owned 0.30% of McCormick & Company, Incorporated worth $61,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MKC. Assenagon Asset Management S.A. boosted its holdings in McCormick & Company, Incorporated by 146.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 48,298 shares of the company's stock valued at $3,682,000 after acquiring an additional 28,736 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in McCormick & Company, Incorporated by 12.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,652 shares of the company's stock worth $583,000 after buying an additional 851 shares during the period. Merit Financial Group LLC lifted its holdings in McCormick & Company, Incorporated by 19.1% in the 4th quarter. Merit Financial Group LLC now owns 9,772 shares of the company's stock worth $745,000 after buying an additional 1,569 shares during the period. HB Wealth Management LLC lifted its holdings in McCormick & Company, Incorporated by 7.3% in the 4th quarter. HB Wealth Management LLC now owns 5,642 shares of the company's stock worth $430,000 after buying an additional 384 shares during the period. Finally, Hall Laurie J Trustee lifted its holdings in McCormick & Company, Incorporated by 46.9% in the 4th quarter. Hall Laurie J Trustee now owns 45,725 shares of the company's stock worth $3,486,000 after buying an additional 14,595 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 0.3%

Shares of NYSE:MKC traded down $0.18 during trading on Friday, hitting $71.13. The stock had a trading volume of 3,700,794 shares, compared to its average volume of 2,033,496. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a market capitalization of $19.08 billion, a PE ratio of 24.28, a PEG ratio of 3.76 and a beta of 0.74. The firm's fifty day moving average is $76.39 and its 200 day moving average is $77.30. 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 (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share 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 for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the business earned $0.63 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Insider Activity at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares of the company's stock, valued at $184,497.72. This trade represents a 54.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were 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. Insiders sold a total of 60,392 shares of company stock valued at $4,898,101 in the last 90 days. Corporate insiders own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

MKC has been the subject of several research analyst reports. Barclays dropped their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Argus lowered 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 given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.