McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Tufton Capital Management

Tufton Capital Management boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 207.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,993 shares of the company's stock after buying an additional 23,606 shares during the period. Tufton Capital Management's holdings in McCormick & Company, Incorporated were worth $2,394,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MKC. American Century Companies Inc. raised its holdings in McCormick & Company, Incorporated by 15.9% during the first quarter. American Century Companies Inc. now owns 5,072 shares of the company's stock worth $506,000 after buying an additional 696 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of McCormick & Company, Incorporated by 28.1% in the 1st quarter. Vontobel Holding Ltd. now owns 6,448 shares of the company's stock worth $627,000 after acquiring an additional 1,415 shares in the last quarter. Sei Investments Co. grew its stake in shares of McCormick & Company, Incorporated by 1.0% in the 1st quarter. Sei Investments Co. now owns 108,139 shares of the company's stock worth $10,803,000 after acquiring an additional 1,048 shares in the last quarter. Prudential PLC bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth $543,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth $313,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Insiders Place Their Bets

In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the sale, the director now directly owns 39,181 shares of the company's stock, valued at $2,554,601.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the sale, the director now directly owns 39,181 shares of the company's stock, valued at $2,554,601.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Patricia A. Little sold 20,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the sale, the director now directly owns 24,732 shares in the company, valued at $1,868,997.24. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock worth $2,376,400 over the last quarter. 22.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an "underweight" rating for the company in a research note on Friday, January 26th. Consumer Edge lowered shares of McCormick & Company, Incorporated from an "overweight" rating to an "equal weight" rating in a research note on Monday, January 22nd. Citigroup upped their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a "sell" rating in a research note on Wednesday, March 27th. Barclays upped their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 28th. Finally, Stifel Nicolaus increased their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a "hold" rating in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $77.88.

McCormick & Company, Incorporated Stock Performance

MKC traded up $0.43 during trading on Thursday, hitting $72.70. 1,329,396 shares of the company traded hands, compared to its average volume of 2,084,972. The firm has a market cap of $19.51 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 3.68 and a beta of 0.74. The stock's fifty day moving average is $70.45 and its 200 day moving average is $67.51. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.31%. McCormick & Company, Incorporated's dividend payout ratio is presently 64.12%.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.