Tocqueville Asset Management L.P. Sells 6,270 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Tocqueville Asset Management L.P. lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 26.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,068 shares of the company’s stock after selling 6,270 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in McCormick & Company, Incorporated were worth $1,311,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. VisionPoint Advisory Group LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $44,000. Private Trust Co. NA boosted its position in shares of McCormick & Company, Incorporated by 59.1% in the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after purchasing an additional 290 shares in the last quarter. Valley National Advisers Inc. boosted its position in shares of McCormick & Company, Incorporated by 283.9% in the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of McCormick & Company, Incorporated by 16.5% in the 1st quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after purchasing an additional 134 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth $77,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded down $0.64 during trading on Friday, reaching $73.59. 1,616,626 shares of the company traded hands, compared to its average volume of 2,322,386. The firm’s fifty day simple moving average is $70.97 and its 200 day simple moving average is $70.52. The stock has a market cap of $19.77 billion, a P/E ratio of 26.86, a PEG ratio of 3.79 and a beta of 0.75. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $90.45. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.68 annualized dividend and a dividend yield of 2.28%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The disclosure for this sale can be found here. Insiders sold a total of 109,458 shares of company stock worth $8,110,714 in the last 90 days. Corporate insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

MKC has been the subject of a number of recent analyst reports. Barclays raised their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. TD Cowen lowered their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, April 2nd. Finally, Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $76.25.

McCormick & Company, Incorporated Company Profile

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.