BI Asset Management Fondsmaeglerselskab A S Sells 4,372 Shares of McCormick & Company, Incorporated (NYSE:MKC)

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 25.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,769 shares of the company's stock after selling 4,372 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in McCormick & Company, Incorporated were worth $974,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MKC. Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $30,000. Twin Tree Management LP purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Albion Financial Group UT acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $33,000. Lee Danner & Bass Inc. acquired a new stake in McCormick & Company, Incorporated during the fourth quarter valued at $37,000. Finally, Rosenberg Matthew Hamilton purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $38,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 approximately $20,242,820.97. This trade represents a 16.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. This represents a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,842 shares of company stock worth $6,478,332. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded down $0.45 during trading hours on Friday, hitting $74.56. 1,256,059 shares of the company's stock were exchanged, compared to its average volume of 1,959,944. The company's 50-day moving average price is $79.18 and its 200-day moving average price is $77.90. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The stock has a market capitalization of $20.00 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 3.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.41%. McCormick & Company, Incorporated's dividend payout ratio is 61.86%.

Analysts Set New Price Targets

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

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.