McCormick & Company, Incorporated $MKC Shares Sold by National Pension Service

National Pension Service decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 97.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,330 shares of the company’s stock after selling 418,092 shares during the quarter. National Pension Service’s holdings in McCormick & Company, Incorporated were worth $635,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Rafferty Asset Management LLC raised its holdings in McCormick & Company, Incorporated by 0.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock worth $1,443,000 after purchasing an additional 157 shares during the period. Ransom Advisory Ltd raised its holdings in shares of McCormick & Company, Incorporated by 3.6% during the fourth quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock valued at $315,000 after acquiring an additional 160 shares during the last quarter. First Affirmative Financial Network raised its holdings in shares of McCormick & Company, Incorporated by 3.0% during the third quarter. First Affirmative Financial Network now owns 6,252 shares of the company’s stock valued at $418,000 after acquiring an additional 181 shares during the last quarter. Modern Wealth Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 5.9% during the second quarter. Modern Wealth Management LLC now owns 3,258 shares of the company’s stock valued at $247,000 after acquiring an additional 181 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of McCormick & Company, Incorporated by 1.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 15,653 shares of the company’s stock valued at $1,066,000 after acquiring an additional 184 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MKC shares. 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 report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reduced 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 reduced 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. Barclays reduced their target price 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. Finally, 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 report on Wednesday, April 1st. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $63.55.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Gavin Hattersley purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the acquisition, the director owned 2,906 shares in the company, valued at $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $46.28 on Wednesday. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $78.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The stock has a market cap of $12.44 billion, a PE ratio of 7.59, a P/E/G ratio of 2.28 and a beta of 0.65. The stock has a 50 day moving average price of $49.97 and a 200 day moving average price of $60.38.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 31.48%.

About McCormick & Company, Incorporated

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.