Diversified Trust Co Cuts Stake in McCormick & Company, Incorporated (NYSE:MKC)

Diversified Trust Co cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 10.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,892 shares of the company’s stock after selling 1,654 shares during the quarter. Diversified Trust Co’s holdings in McCormick & Company, Incorporated were worth $1,144,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Anchor Investment Management LLC purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $36,000. VisionPoint Advisory Group LLC acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth $44,000. Valley National Advisers Inc. grew its holdings in shares of McCormick & Company, Incorporated by 283.9% during the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after buying an additional 582 shares in the last quarter. Private Trust Co. NA raised its position in shares of McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after buying an additional 290 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of McCormick & Company, Incorporated by 72.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after buying an additional 461 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $69.95 on Tuesday. The company’s 50 day simple moving average is $72.19 and its 200-day simple moving average is $70.17. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $90.45. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 3.71 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 2.84 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 2,732 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total value of $207,386.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 80,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the sale, the director now owns 199,258 shares in the company, valued at approximately $14,695,277.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Katherine Jenkins sold 2,732 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total value of $207,386.12. The disclosure for this sale can be found here. Insiders sold a total of 84,458 shares of company stock valued at $6,235,714 in the last three months. 22.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on MKC shares. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price objective for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. Stifel Nicolaus lifted their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, April 2nd. Barclays lifted their price target 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, TD Cowen cut their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus target price of $76.25.

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.