McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Reik & CO. LLC

Reik & CO. LLC trimmed its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.3% in the 1st quarter, HoldingsChannel reports. The firm owned 457,185 shares of the company’s stock after selling 5,883 shares during the quarter. McCormick & Company, Incorporated makes up about 8.8% of Reik & CO. LLC’s portfolio, making the stock its 4th largest position. Reik & CO. LLC’s holdings in McCormick & Company, Incorporated were worth $37,631,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MKC. Sei Investments Co. boosted its stake in shares of McCormick & Company, Incorporated by 18.1% in the fourth quarter. Sei Investments Co. now owns 161,478 shares of the company’s stock worth $12,311,000 after buying an additional 24,786 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of McCormick & Company, Incorporated by 1.6% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 119,723 shares of the company’s stock worth $9,128,000 after acquiring an additional 1,927 shares during the period. Korea Investment CORP grew its holdings in McCormick & Company, Incorporated by 120.7% in the fourth quarter. Korea Investment CORP now owns 265,677 shares of the company’s stock valued at $20,255,000 after purchasing an additional 145,288 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of McCormick & Company, Incorporated by 3.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 470,446 shares of the company’s stock worth $35,683,000 after buying an additional 15,179 shares during the period. Finally, UniSuper Management Pty Ltd lifted its position in shares of McCormick & Company, Incorporated by 24.3% during the 4th quarter. UniSuper Management Pty Ltd now owns 30,097 shares of the company’s stock valued at $2,295,000 after buying an additional 5,883 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Down 1.2%

MKC stock opened at $71.52 on Friday. McCormick & Company, Incorporated has a one year low of $69.98 and a one year high of $86.24. The firm has a market cap of $19.19 billion, a PE ratio of 24.83, a PEG ratio of 3.48 and a beta of 0.68. The firm’s 50 day moving average price is $73.45 and its 200-day moving average price is $76.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 annualized dividend and a yield of 2.52%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

MKC has been the subject of a number of research reports. Citigroup cut their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, June 17th. UBS Group assumed coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a “neutral” rating and a $83.00 price objective on the stock. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.13.

McCormick & Company, Incorporated Profile

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.