McCormick & Company, Incorporated (NYSE:MKC) Holdings Decreased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. decreased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 28.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,081 shares of the company’s stock after selling 4,707 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $928,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth $160,999,000. Massachusetts Financial Services Co. MA boosted its position in McCormick & Company, Incorporated by 41.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock valued at $366,667,000 after buying an additional 1,577,636 shares in the last quarter. Alecta Tjanstepension Omsesidigt bought a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $92,340,000. Impax Asset Management Group plc increased its stake in shares of McCormick & Company, Incorporated by 157.2% in the fourth quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock valued at $72,749,000 after buying an additional 649,908 shares in the last quarter. Finally, Fenimore Asset Management Inc. lifted its position in shares of McCormick & Company, Incorporated by 369.2% during the fourth quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock worth $47,554,000 after purchasing an additional 546,911 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 80,000 shares of McCormick & Company, Incorporated 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 completion of the sale, the director now directly owns 199,258 shares in the company, valued at approximately $14,695,277.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,458 shares of company stock worth $6,235,714. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $69.95 on Tuesday. 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 52 week low of $59.13 and a 52 week high of $90.45. The firm has a market cap of $18.78 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 3.71 and a beta of 0.75. The firm’s fifty day moving average is $72.19 and its 200-day moving average is $70.17.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend 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 currently 61.31%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, April 2nd. Barclays boosted their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price target for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Stifel Nicolaus upped their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Finally, TD Cowen decreased their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.