IQ EQ FUND MANAGEMENT IRELAND Ltd Trims Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,183 shares of the company’s stock after selling 2,713 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in McCormick & Company, Incorporated were worth $1,463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Private Wealth Advisors LLC grew its holdings in shares of McCormick & Company, Incorporated by 3.9% during the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after buying an additional 136 shares in the last quarter. Empower Advisory Group LLC boosted its position in McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after acquiring an additional 138 shares during the last quarter. Hunter Associates Investment Management LLC grew its stake in McCormick & Company, Incorporated by 1.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after acquiring an additional 153 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of McCormick & Company, Incorporated by 1.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company’s stock valued at $755,000 after purchasing an additional 154 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in McCormick & Company, Incorporated by 3.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company’s stock valued at $427,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $81.64 on Friday. The firm has a 50-day moving average of $79.09 and a two-hundred day moving average of $78.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock has a market cap of $21.89 billion, a P/E ratio of 27.86, a PEG ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business earned $0.63 EPS. McCormick & Company, Incorporated’s revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.20%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MKC shares. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday. Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.75.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.