McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 26.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 55,035 shares of the company's stock after selling 19,578 shares during the quarter. First Manhattan CO. LLC.'s holdings in McCormick & Company, Incorporated were worth $4,221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Private Wealth Advisors LLC raised its stake in 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 valued at $276,000 after purchasing an additional 136 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of 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 buying an additional 137 shares during the last quarter. Empower Advisory Group LLC raised its position in shares of McCormick & Company, Incorporated by 1.7% during the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock valued at $641,000 after buying an additional 138 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock valued at $3,278,000 after acquiring an additional 139 shares during the last quarter. Finally, Hunter Associates Investment Management LLC grew its position in McCormick & Company, Incorporated by 1.2% in the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company's stock worth $954,000 after acquiring an additional 153 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This represents a 81.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were 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 in the company, valued at $20,242,820.97. This represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,842 shares of company stock valued at $6,478,332 over the last ninety days. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Trading Up 0.6%

Shares of NYSE MKC traded up $0.47 during trading hours on Monday, reaching $76.54. The stock had a trading volume of 2,349,175 shares, compared to its average volume of 1,975,641. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The business's fifty day moving average price is $77.90 and its two-hundred day moving average price is $77.57. The firm has a market cap of $20.53 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 3.76 and a beta of 0.74. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.35%. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MKC. Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. upped their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.