Trillium Asset Management LLC cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 14.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 426,212 shares of the company’s stock after selling 73,548 shares during the period. McCormick & Company, Incorporated comprises approximately 0.9% of Trillium Asset Management LLC’s investment portfolio, making the stock its 29th biggest holding. Trillium Asset Management LLC owned approximately 0.16% of McCormick & Company, Incorporated worth $29,426,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in McCormick & Company, Incorporated by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock valued at $2,854,000 after purchasing an additional 925 shares during the period. Empowered Funds LLC lifted its position in McCormick & Company, Incorporated by 19.0% during the first quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock valued at $486,000 after purchasing an additional 941 shares during the period. Woodline Partners LP lifted its position in McCormick & Company, Incorporated by 40.9% during the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock valued at $1,756,000 after purchasing an additional 6,189 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in McCormick & Company, Incorporated during the second quarter valued at $6,520,000. Finally, Daiwa Securities Group Inc. lifted its position in McCormick & Company, Incorporated by 6.1% during the second quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock valued at $2,873,000 after purchasing an additional 2,176 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently issued reports on MKC. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. BTIG Research began coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They set a “neutral” rating for the company. BNP Paribas Exane decreased their target price on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Jefferies Financial Group decreased their target price on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.27.
McCormick & Company, Incorporated Stock Down 0.6%
MKC opened at $48.95 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $78.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The company has a fifty day moving average of $49.22 and a two-hundred day moving average of $59.27. The stock has a market capitalization of $13.15 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 2.43 and a beta of 0.65.
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, research analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.
McCormick & Company, Incorporated Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a yield of 3.9%. McCormick & Company, Incorporated’s payout ratio is presently 31.48%.
Insiders Place Their Bets
In other news, Director Gavin Hattersley acquired 2,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was bought at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the acquisition, the director owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.60% of the company’s stock.
About McCormick & Company, Incorporated
McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.
McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.
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