McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd reduced its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 60.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 66,498 shares of the company's stock after selling 103,539 shares during the quarter. Point72 Hong Kong Ltd's holdings in McCormick & Company, Incorporated were worth $5,070,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MKC. Curio Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $30,000. Albion Financial Group UT acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Twin Tree Management LP acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Lee Danner & Bass Inc. acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $38,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the director now owns 247,437 shares in the company, valued at approximately $20,242,820.97. This trade represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock valued at $4,898,101 in the last ninety days. Insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Stock Up 1.0%

Shares of NYSE:MKC traded up $0.76 during trading hours on Friday, reaching $75.50. The stock had a trading volume of 4,008,377 shares, compared to its average volume of 2,007,604. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The firm's 50 day moving average is $77.24 and its 200-day moving average is $77.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The stock has a market capitalization of $20.25 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 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 during the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the prior year, the company posted $0.63 earnings per share. The company's revenue for the quarter was up .2% on a year-over-year basis. Research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on 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.