Benjamin Edwards Inc. Cuts Stake in McCormick & Company, Incorporated (NYSE:MKC)

Benjamin Edwards Inc. decreased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 16.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,397 shares of the company’s stock after selling 3,056 shares during the quarter. Benjamin Edwards Inc.’s holdings in McCormick & Company, Incorporated were worth $1,053,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Northern Trust Corp boosted its position in McCormick & Company, Incorporated by 2.8% in the 3rd quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock valued at $260,108,000 after buying an additional 93,034 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,221,637 shares of the company’s stock valued at $168,045,000 after purchasing an additional 46,063 shares in the last quarter. Invesco Ltd. increased its holdings in McCormick & Company, Incorporated by 15.4% during the 3rd quarter. Invesco Ltd. now owns 1,828,576 shares of the company’s stock worth $138,313,000 after purchasing an additional 244,211 shares during the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $92,340,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of McCormick & Company, Incorporated by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,317,845 shares of the company’s stock valued at $99,682,000 after purchasing an additional 19,962 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the sale, the director now owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 dated 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 sale, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the sale, the director now directly owns 5,594 shares of the company’s stock, valued at $430,738. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,726 shares of company stock valued at $2,504,728. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded up $0.31 during midday trading on Friday, reaching $75.45. 1,583,980 shares of the company traded hands, compared to its average volume of 2,041,533. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. The company has a fifty day moving average price of $72.26 and a 200 day moving average price of $68.22. The firm has a market capitalization of $20.25 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 3.82 and a beta of 0.73.

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 the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.23%. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Consumer Edge lowered shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Stifel Nicolaus upped their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Tuesday, April 2nd. Barclays increased their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Finally, Citigroup lifted their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.88.

McCormick & Company, Incorporated 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.