Notis McConarty Edward Sells 15,895 Shares of McCormick & Company, Incorporated $MKC

Notis McConarty Edward reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 37.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,440 shares of the company’s stock after selling 15,895 shares during the quarter. Notis McConarty Edward’s holdings in McCormick & Company, Incorporated were worth $1,801,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Rafferty Asset Management LLC raised its stake in McCormick & Company, Incorporated by 0.7% in the third quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock valued at $1,443,000 after purchasing an additional 157 shares in the last quarter. Ransom Advisory Ltd raised its stake 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 worth $315,000 after acquiring an additional 160 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after acquiring an additional 164 shares in the last quarter. Glen Eagle Advisors LLC raised its stake in shares of McCormick & Company, Incorporated by 42.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock worth $39,000 after acquiring an additional 170 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of McCormick & Company, Incorporated by 10.5% during the fourth quarter. Van ECK Associates Corp now owns 1,795 shares of the company’s stock worth $122,000 after acquiring an additional 171 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was acquired at an average price of $52.98 per share, with a total value of $105,960.00. Following the transaction, the director owned 2,906 shares in the company, valued at $153,959.88. This represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. HSBC decreased their price target on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Jefferies Financial Group decreased their price target on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, June 4th. TD Cowen decreased their target price on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Finally, Stifel Nicolaus decreased their target price on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average price target of $61.90.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $47.15 on Wednesday. The stock has a market cap of $12.67 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 2.37 and a beta of 0.65. The firm’s fifty day simple moving average is $49.17 and its 200 day simple moving average is $58.94. 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 earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were given a $0.48 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a yield of 4.1%. McCormick & Company, Incorporated’s payout ratio is 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.