McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,262 shares of the company’s stock after selling 604 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in McCormick & Company, Incorporated were worth $629,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Public Sector Pension Investment Board grew its stake in McCormick & Company, Incorporated by 13.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,019 shares of the company’s stock valued at $907,000 after acquiring an additional 1,300 shares in the last quarter. Centiva Capital LP purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $559,000. Janus Henderson Group PLC grew its position in shares of McCormick & Company, Incorporated by 0.6% in the third quarter. Janus Henderson Group PLC now owns 311,059 shares of the company’s stock valued at $25,603,000 after purchasing an additional 1,752 shares in the last quarter. Investment Management Corp of Ontario increased its holdings in shares of McCormick & Company, Incorporated by 48.0% in the third quarter. Investment Management Corp of Ontario now owns 8,320 shares of the company’s stock valued at $685,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Quarry LP boosted its stake in McCormick & Company, Incorporated by 45.9% during the third quarter. Quarry LP now owns 1,005 shares of the company’s stock worth $83,000 after buying an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

MKC has been the topic of several analyst reports. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Finally, Barclays cut their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given 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, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $83.14.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the sale, the director now owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares in the company, valued at $475,814.31. This represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,842 shares of company stock valued at $6,478,332 in the last ninety days. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Down 5.5 %

Shares of NYSE MKC opened at $76.36 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $79.91 and its two-hundred day moving average is $78.72. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the firm posted $0.63 EPS. McCormick & Company, Incorporated’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.86%.

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.