McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 19.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,050 shares of the company’s stock after selling 6,773 shares during the quarter. McCormick & Company, Incorporated comprises about 0.3% of Dynamic Technology Lab Private Ltd’s portfolio, making the stock its 27th biggest position. Dynamic Technology Lab Private Ltd’s holdings in McCormick & Company, Incorporated were worth $2,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dempze Nancy E boosted its holdings in McCormick & Company, Incorporated by 28.4% in the fourth quarter. Dempze Nancy E now owns 26,337 shares of the company’s stock worth $2,008,000 after acquiring an additional 5,833 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $7,418,000. Notis McConarty Edward boosted its stake in McCormick & Company, Incorporated by 26.5% in the 4th quarter. Notis McConarty Edward now owns 31,102 shares of the company’s stock worth $2,371,000 after purchasing an additional 6,514 shares in the last quarter. Kidder Stephen W grew its position in McCormick & Company, Incorporated by 40.6% during the 4th quarter. Kidder Stephen W now owns 46,685 shares of the company’s stock worth $3,559,000 after purchasing an additional 13,470 shares during the last quarter. Finally, Somerville Kurt F increased its stake in McCormick & Company, Incorporated by 34.2% during the 4th quarter. Somerville Kurt F now owns 96,074 shares of the company’s stock valued at $7,325,000 after purchasing an additional 24,467 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Down 5.5 %

Shares of NYSE:MKC opened at $76.36 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The business has a 50 day moving average of $79.91 and a two-hundred day moving average of $78.76. The company has a market capitalization of $20.48 billion, a PE ratio of 26.06, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results 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). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. As a group, analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.45 per share. 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 presently 61.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MKC shares. Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Barclays dropped their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.14.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares of the company’s stock, valued at $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,842 shares of company stock worth $6,478,332 in the last 90 days. Corporate insiders own 23.80% of the company’s stock.

About McCormick & Company, Incorporated

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.