McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by DB Fitzpatrick & Co Inc

DB Fitzpatrick & Co Inc lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,034 shares of the company’s stock after selling 1,515 shares during the period. DB Fitzpatrick & Co Inc’s holdings in McCormick & Company, Incorporated were worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Savvy Advisors Inc. acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at about $466,000. Somerville Kurt F increased its holdings in shares of McCormick & Company, Incorporated by 34.2% in the 4th quarter. Somerville Kurt F now owns 96,074 shares of the company’s stock valued at $7,325,000 after acquiring an additional 24,467 shares during the last quarter. DJE Kapital AG purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $4,228,000. SBI Securities Co. Ltd. purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $234,000. Finally, Dempze Nancy E increased its holdings in shares of McCormick & Company, Incorporated by 28.4% in the 4th quarter. Dempze Nancy E now owns 26,337 shares of the company’s stock valued at $2,008,000 after acquiring an additional 5,833 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.3%

NYSE:MKC opened at $73.15 on Thursday. The stock’s 50 day moving average price is $74.44 and its 200 day moving average price is $76.89. The company has a market capitalization of $19.62 billion, a PE ratio of 25.14, a P/E/G ratio of 3.67 and a beta of 0.68. The company has a quick ratio of 0.25, a current ratio of 0.65 and a debt-to-equity ratio of 0.57. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 14.63% and a net margin of 11.67%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.46%. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Analyst Ratings Changes

MKC has been the topic of a number of recent analyst reports. UBS Group initiated coverage on McCormick & Company, Incorporated in a report on Monday. They issued a “neutral” rating and a $83.00 price objective on the stock. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, Citigroup dropped their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $84.13.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the 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 sale, the vice president now directly owns 2,266 shares of the company’s stock, valued at approximately $184,497.72. This trade represents a 54.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the sale, the director now directly owns 247,437 shares of the company’s stock, 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. In the last ninety days, insiders sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is owned by company insiders.

About McCormick & Company, Incorporated

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.