Azzad Asset Management Inc. ADV Sells 239 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Azzad Asset Management Inc. ADV cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,349 shares of the company’s stock after selling 239 shares during the period. Azzad Asset Management Inc. ADV’s holdings in McCormick & Company, Incorporated were worth $2,562,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Anchor Investment Management LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth approximately $36,000. VisionPoint Advisory Group LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth approximately $44,000. Private Trust Co. NA increased 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 worth $53,000 after purchasing an additional 290 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position 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 purchasing an additional 461 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. TD Cowen decreased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Barclays increased 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 report on Thursday, March 28th. Stifel Nicolaus increased 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. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, April 2nd. Finally, Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price target for the stock 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.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $76.25.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $69.72 on Thursday. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $90.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The business has a fifty day moving average price of $72.00 and a 200-day moving average price of $70.20. The company has a market capitalization of $18.71 billion, a PE ratio of 25.45, a PEG ratio of 3.63 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company earned $0.60 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.68 annualized dividend and a dividend yield of 2.41%. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

Insider Buying and Selling

In related news, 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 value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, 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 value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 22nd. The stock was 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 sold 84,458 shares of company stock worth $6,235,714. 22.90% of the stock is owned by corporate insiders.

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.