Howland Capital Management LLC Sells 64,032 Shares of McCormick & Company, Incorporated $MKC

Howland Capital Management LLC lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 21.1% in the fourth quarter, HoldingsChannel reports. The fund owned 239,007 shares of the company’s stock after selling 64,032 shares during the period. Howland Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $16,393,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MKC. GoalVest Advisory LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $28,000. Deseret Mutual Benefit Administrators increased its stake in shares of McCormick & Company, Incorporated by 67.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after acquiring an additional 164 shares during the last quarter. Zions Bancorporation National Association UT raised its position in shares of McCormick & Company, Incorporated by 340.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after acquiring an additional 357 shares during the period. Legacy Wealth Managment LLC ID bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth $40,000. Finally, Elyxium Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $43,000. Institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were purchased at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the purchase, the director directly owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MKC shares. Barclays dropped their price target on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. UBS Group decreased their price target on shares of McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Zacks Research raised McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. BNP Paribas Exane reduced their price target on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Finally, HSBC decreased their target price 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. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $63.27.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $48.95 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. The stock has a market cap of $13.15 billion, a PE ratio of 8.02, a PEG ratio of 2.43 and a beta of 0.65. McCormick & Company, Incorporated has a 12-month low of $44.82 and a 12-month high of $78.16. The business has a 50-day simple moving average of $49.22 and a two-hundred day simple moving average of $59.27.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the company earned $0.60 earnings per share. The firm’s revenue was up 16.7% compared to the same quarter last year. Analysts anticipate that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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