Penobscot Investment Management Company Inc. Sells 252 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Penobscot Investment Management Company Inc. reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.8% during the fourth quarter, HoldingsChannel reports. The fund owned 31,596 shares of the company’s stock after selling 252 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in McCormick & Company, Incorporated were worth $2,162,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. KFG Wealth Management LLC lifted its position in McCormick & Company, Incorporated by 3.1% in the fourth quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock valued at $358,000 after purchasing an additional 158 shares during the last quarter. Beaumont Financial Advisors LLC lifted its position in McCormick & Company, Incorporated by 4.5% in the fourth quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock valued at $252,000 after purchasing an additional 159 shares during the last quarter. PFG Investments LLC lifted its position in McCormick & Company, Incorporated by 2.6% in the fourth quarter. PFG Investments LLC now owns 6,981 shares of the company’s stock valued at $478,000 after purchasing an additional 179 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its position in McCormick & Company, Incorporated by 3.2% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 6,205 shares of the company’s stock valued at $425,000 after purchasing an additional 195 shares during the last quarter. Finally, Atlas Private Wealth Management lifted its position in McCormick & Company, Incorporated by 1.3% in the third quarter. Atlas Private Wealth Management now owns 15,661 shares of the company’s stock valued at $1,185,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the transaction, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,726 shares of company stock worth $2,504,728. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 0.2 %

MKC traded down $0.13 during trading on Tuesday, reaching $76.16. The stock had a trading volume of 656,990 shares, compared to its average volume of 2,027,801. The stock’s 50 day moving average is $71.81 and its two-hundred day moving average is $68.02. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $20.44 billion, a price-to-earnings ratio of 29.12, a P/E/G ratio of 3.88 and a beta of 0.74. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. As a group, analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 64.12%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, April 2nd. Citigroup raised their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Finally, Barclays raised their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $77.88.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.