Rockefeller Capital Management L.P. Cuts Stake in McCormick & Company, Incorporated (NYSE:MKC)

Rockefeller Capital Management L.P. lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 138,237 shares of the company's stock after selling 7,021 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.05% of McCormick & Company, Incorporated worth $10,539,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $30,000. Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Twin Tree Management LP purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Lee Danner & Bass Inc. bought a new position in McCormick & Company, Incorporated during the fourth quarter valued at $37,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded up $1.11 during midday trading on Tuesday, hitting $75.78. 1,577,447 shares of the company traded hands, compared to its average volume of 1,960,880. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The firm has a market cap of $20.32 billion, a P/E ratio of 25.86, a PEG ratio of 3.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock has a 50-day moving average of $79.26 and a 200-day moving average of $77.98.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results 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 return on equity of 14.89% and a net margin of 11.73%. The firm 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 company posted $0.63 EPS. The business's revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict 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. Investors of record on Monday, April 7th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.38%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is 61.86%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on 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 directly owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 80,842 shares of company stock worth $6,478,332 over the last ninety days. 23.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th. Barclays cut their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. Finally, Argus lowered shares of 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 assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated 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.