Centaurus Financial Inc. Decreases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Centaurus Financial Inc. reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 19.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,607 shares of the company’s stock after selling 645 shares during the quarter. Centaurus Financial Inc.’s holdings in McCormick & Company, Incorporated were worth $178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $160,999,000. Massachusetts Financial Services Co. MA grew its stake in shares of McCormick & Company, Incorporated by 41.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock worth $366,667,000 after purchasing an additional 1,577,636 shares during the period. Alecta Tjanstepension Omsesidigt acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $92,340,000. Impax Asset Management Group plc grew its stake in shares of McCormick & Company, Incorporated by 157.2% during the 4th quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock worth $72,749,000 after purchasing an additional 649,908 shares during the period. Finally, Fenimore Asset Management Inc. grew its stake in McCormick & Company, Incorporated by 369.2% in the 4th quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock valued at $47,554,000 after acquiring an additional 546,911 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MKC. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, April 2nd. Stifel Nicolaus lifted their price target 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. Barclays lifted their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Finally, Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their price target for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $78.00.

McCormick & Company, Incorporated Stock Down 1.2 %

NYSE MKC opened at $68.63 on Wednesday. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $72.79 and its 200-day simple moving average is $70.09. The firm has a market cap of $18.42 billion, a PE ratio of 26.19, a P/E/G ratio of 3.51 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.45%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the transaction, the director now directly owns 5,594 shares of the company’s stock, valued at approximately $430,738. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,458 shares of company stock worth $8,286,114. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Company 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.