National Bank of Canada FI Decreases Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

National Bank of Canada FI cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,092 shares of the company’s stock after selling 10,708 shares during the period. National Bank of Canada FI’s holdings in McCormick & Company, Incorporated were worth $9,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Public Sector Pension Investment Board grew its holdings in McCormick & Company, Incorporated by 13.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,019 shares of the company’s stock valued at $907,000 after buying an additional 1,300 shares in the last quarter. Centiva Capital LP purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $559,000. Janus Henderson Group PLC grew its holdings in shares of McCormick & Company, Incorporated by 0.6% in the third quarter. Janus Henderson Group PLC now owns 311,059 shares of the company’s stock valued at $25,603,000 after purchasing an additional 1,752 shares during the period. Investment Management Corp of Ontario increased its position in McCormick & Company, Incorporated by 48.0% during the third quarter. Investment Management Corp of Ontario now owns 8,320 shares of the company’s stock worth $685,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Quarry LP raised its stake in McCormick & Company, Incorporated by 45.9% during the third quarter. Quarry LP now owns 1,005 shares of the company’s stock worth $83,000 after purchasing an additional 316 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 5.5 %

NYSE:MKC opened at $76.36 on Friday. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The stock’s fifty day moving average is $79.91 and its two-hundred day moving average is $78.72. The stock has a market capitalization of $20.48 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MKC shares. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays decreased their price objective 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. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. Finally, Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $83.14.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the transaction, the director now owns 247,437 shares of the company’s stock, valued at $20,242,820.97. This trade represents a 16.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,842 shares of company stock worth $6,478,332. Corporate insiders own 23.80% of the company’s stock.

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.