Court Place Advisors LLC Cuts Position in McCormick & Company, Incorporated (NYSE:MKC)

Court Place Advisors LLC trimmed its position in McCormick & Company, Incorporated (NYSE:MKC) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,480 shares of the company’s stock after selling 320 shares during the quarter. Court Place Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Financial Group LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $29,000. Point72 Hong Kong Ltd purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $44,000. Anchor Investment Management LLC acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $36,000. ICA Group Wealth Management LLC acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $46,000. Finally, KB Financial Partners LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $49,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MKC. Citigroup increased their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. Barclays boosted their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Stifel Nicolaus lifted their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $77.88.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the transaction, the director now owns 39,181 shares in the company, valued at approximately $2,554,601.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the transaction, the director now owns 24,732 shares in the company, valued at approximately $1,868,997.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the transaction, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,000 shares of company stock worth $2,376,400. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Trading Up 0.7 %

Shares of MKC traded up $0.47 on Wednesday, hitting $72.27. 1,151,861 shares of the stock traded hands, compared to its average volume of 2,095,171. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The firm has a market capitalization of $19.40 billion, a P/E ratio of 27.40, a P/E/G ratio of 3.69 and a beta of 0.74. The stock’s 50 day moving average is $70.18 and its two-hundred day moving average is $67.44. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

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.