Twin Tree Management LP Reduces Stake in McCormick & Company, Incorporated (NYSE:MKC)

Twin Tree Management LP decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 95.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,111 shares of the company’s stock after selling 143,155 shares during the period. Twin Tree Management LP’s holdings in McCormick & Company, Incorporated were worth $469,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. VisionPoint Advisory Group LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth about $44,000. Valley National Advisers Inc. increased its stake in 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 acquiring an additional 582 shares during the last quarter. Private Trust Co. NA increased its stake in 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 acquiring an additional 290 shares during the last quarter. Lindbrook Capital LLC increased its stake in 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 acquiring an additional 134 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in McCormick & Company, Incorporated by 72.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after acquiring an additional 461 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 2,732 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total transaction of $207,386.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Katherine Jenkins sold 2,732 shares of McCormick & Company, Incorporated stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total value of $207,386.12. The disclosure for this sale can be found here. Insiders sold a total of 109,458 shares of company stock valued at $8,110,714 in the last 90 days. Corporate insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

McCormick & Company, Incorporated Trading Down 0.9 %

MKC opened at $73.59 on Friday. The stock has a market cap of $19.77 billion, a PE ratio of 26.86, a PEG ratio of 3.79 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average of $70.97 and a 200-day moving average of $70.52. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $90.45.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

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.