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

Court Place Advisors LLC decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.4% during the 4th quarter, HoldingsChannel reports. The fund 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 quarter.

A number of other hedge funds have also recently modified their holdings of MKC. Legacy Financial Group LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $29,000. Point72 Hong Kong Ltd acquired a new stake in McCormick & Company, Incorporated during the first quarter worth $44,000. Anchor Investment Management LLC purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $36,000. ICA Group Wealth Management LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $46,000. Finally, KB Financial Partners LLC purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth $49,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

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

McCormick & Company, Incorporated Stock Up 0.7 %

Shares of MKC stock traded up $0.47 on Wednesday, reaching $72.27. 1,151,861 shares of the stock were exchanged, compared to its average volume of 2,095,171. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $19.40 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 3.69 and a beta of 0.74. The business’s 50 day moving average price is $70.18 and its 200 day moving average price is $67.44.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 earnings per share. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 64.12%.

Analyst Ratings Changes

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

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.