Boston Family Office LLC Sells 67,233 Shares of McCormick & Company, Incorporated $MKC

Boston Family Office LLC trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 32.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 142,150 shares of the company’s stock after selling 67,233 shares during the quarter. Boston Family Office LLC’s holdings in McCormick & Company, Incorporated were worth $9,682,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in McCormick & Company, Incorporated by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 32,679,906 shares of the company’s stock worth $2,225,828,000 after buying an additional 314,252 shares in the last quarter. State Street Corp grew its position in McCormick & Company, Incorporated by 5.1% during the third quarter. State Street Corp now owns 15,522,816 shares of the company’s stock worth $1,038,632,000 after buying an additional 747,844 shares in the last quarter. Geode Capital Management LLC grew its position in McCormick & Company, Incorporated by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 6,508,928 shares of the company’s stock worth $441,571,000 after buying an additional 59,587 shares in the last quarter. Invesco Ltd. grew its position in McCormick & Company, Incorporated by 66.7% during the third quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock worth $417,006,000 after buying an additional 2,494,544 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in McCormick & Company, Incorporated by 2.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,151,945 shares of the company’s stock worth $214,679,000 after buying an additional 62,977 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the transaction, the director directly owned 2,906 shares of the company’s stock, valued at $153,959.88. This trade represents a 220.75% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.60% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 0.6%

Shares of MKC stock opened at $48.95 on Friday. The stock has a market capitalization of $13.15 billion, a PE ratio of 8.02, a P/E/G ratio of 2.43 and a beta of 0.65. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $78.16. The business has a 50-day moving average of $49.22 and a 200 day moving average of $59.27. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were given a dividend of $0.48 per share. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. McCormick & Company, Incorporated’s payout ratio is currently 31.48%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MKC. Stifel Nicolaus reduced their target price 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. TD Cowen reduced their target price 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. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Monday, April 27th. Sanford C. Bernstein cut their price objective on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. Finally, Barclays cut their price objective on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.27.

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.