Nuance Investments LLC Lowers Stock Holdings in McCormick & Company, Incorporated $MKC

Nuance Investments LLC lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 69.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 69,587 shares of the company’s stock after selling 160,399 shares during the period. Nuance Investments LLC’s holdings in McCormick & Company, Incorporated were worth $4,740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of McCormick & Company, Incorporated by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock worth $2,854,000 after purchasing an additional 925 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of McCormick & Company, Incorporated by 19.0% in the first quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock worth $486,000 after acquiring an additional 941 shares in the last quarter. Woodline Partners LP raised its stake in McCormick & Company, Incorporated by 40.9% during the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock valued at $1,756,000 after buying an additional 6,189 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at approximately $6,520,000. Finally, Daiwa Securities Group Inc. raised its position in shares of McCormick & Company, Incorporated by 6.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock valued at $2,873,000 after acquiring an additional 2,176 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $47.31 on Friday. The company’s fifty day moving average is $49.48 and its two-hundred day moving average is $59.88. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 12-month low of $44.82 and a 12-month high of $78.16. The company has a market cap of $12.71 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 2.29 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business posted $0.60 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was up 16.7% compared to the same quarter last year. Equities analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio is presently 31.48%.

Insider Buying and Selling

In other news, Director Gavin Hattersley purchased 2,000 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was bought at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the acquisition, the director directly owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. The trade was a 220.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their target price on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating for the company in a report on Monday, March 30th. HSBC lowered their target price on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Stifel Nicolaus reduced their price objective on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, TD Cowen reduced their price objective on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus target price of $63.36.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.