Financial Counselors Inc. Trims Position in McCormick & Company, Incorporated (NYSE:MKC)

Financial Counselors Inc. cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 22.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 117,221 shares of the company’s stock after selling 34,562 shares during the period. Financial Counselors Inc.’s holdings in McCormick & Company, Incorporated were worth $8,937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Private Wealth Advisors LLC increased its holdings in McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after acquiring an additional 136 shares during the period. Empower Advisory Group LLC grew its position in shares of McCormick & Company, Incorporated by 1.7% during the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after purchasing an additional 138 shares in the last quarter. Hunter Associates Investment Management LLC increased its holdings in shares of McCormick & Company, Incorporated by 1.2% in the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after purchasing an additional 153 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of McCormick & Company, Incorporated by 1.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company’s stock worth $755,000 after buying an additional 154 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in McCormick & Company, Incorporated by 3.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company’s stock valued at $427,000 after buying an additional 169 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MKC. Barclays lowered their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.75.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $80.85 on Thursday. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm has a fifty day simple moving average of $78.93 and a two-hundred day simple moving average of $78.86. The company has a market capitalization of $21.68 billion, a PE ratio of 27.59, a P/E/G ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.23%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.43%.

McCormick & Company, Incorporated Company 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.