Motley Fool Wealth Management LLC Sells 17,094 Shares of McCormick & Company, Incorporated $MKC

Motley Fool Wealth Management LLC reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 20.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 66,386 shares of the company’s stock after selling 17,094 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $4,522,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, June 4th. UBS Group cut their price objective on McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. HSBC cut their price objective on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, BNP Paribas Exane dropped their price target on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus target price of $63.36.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Gavin Hattersley acquired 2,000 shares of the stock in a transaction on Friday, April 10th. The stock was acquired at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the purchase, the director owned 2,906 shares of the company’s stock, valued at $153,959.88. This represents a 220.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Trading Up 2.2%

NYSE MKC opened at $48.65 on Wednesday. The stock’s 50 day moving average is $49.31 and its 200 day moving average is $59.60. The firm has a market capitalization of $13.07 billion, a PE ratio of 7.97, a P/E/G ratio of 2.33 and a beta of 0.65. McCormick & Company, Incorporated has a twelve month low of $44.82 and a twelve month high of $78.16. 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 (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (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 analysts’ expectations of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. Research analysts forecast that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

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.