McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,184 shares of the company's stock after selling 3,496 shares during the quarter. Alliancebernstein L.P. owned about 0.10% of McCormick & Company, Incorporated worth $20,980,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MKC. Quarry LP increased its holdings in shares of McCormick & Company, Incorporated by 45.9% in the third quarter. Quarry LP now owns 1,005 shares of the company's stock valued at $83,000 after purchasing an additional 316 shares during the period. Quantinno Capital Management LP increased its holdings in McCormick & Company, Incorporated by 35.3% in the 3rd quarter. Quantinno Capital Management LP now owns 51,051 shares of the company's stock worth $4,202,000 after buying an additional 13,323 shares during the period. Stifel Financial Corp increased its holdings in McCormick & Company, Incorporated by 27.1% in the 3rd quarter. Stifel Financial Corp now owns 330,642 shares of the company's stock worth $27,213,000 after buying an additional 70,508 shares during the period. Wellington Management Group LLP raised its position in McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company's stock worth $11,500,000 after buying an additional 24,881 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at approximately $502,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MKC has been the subject of several recent research reports. Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barclays dropped their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded up $0.30 during trading hours on Friday, reaching $75.84. 1,826,424 shares of the company's stock were exchanged, compared to its average volume of 1,948,125. The business has a fifty day moving average of $79.53 and a two-hundred day moving average of $78.32. The company has a market capitalization of $20.34 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. 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 has a 1 year low of $66.88 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the company earned $0.63 earnings per share. McCormick & Company, Incorporated's revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction 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 sale, the director now owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated 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.