Champlain Investment Partners LLC Decreases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Champlain Investment Partners LLC trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,662,335 shares of the company's stock after selling 205,597 shares during the quarter. McCormick & Company, Incorporated makes up 1.3% of Champlain Investment Partners LLC's holdings, making the stock its 23rd biggest holding. Champlain Investment Partners LLC owned approximately 0.99% of McCormick & Company, Incorporated worth $202,976,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, VP Gregory Repas sold 2,750 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now directly owns 2,266 shares of the company's stock, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company'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 transaction, the director now owns 247,437 shares of the company's stock, valued at $20,242,820.97. This trade represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,842 shares of company stock worth $6,478,332. 23.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MKC. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Barclays cut their target price on 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. Finally, JPMorgan Chase & Co. lifted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $83.14.

McCormick & Company, Incorporated Stock Up 1.4 %

NYSE MKC traded up $1.05 during trading hours on Tuesday, hitting $75.72. The company's stock had a trading volume of 455,724 shares, compared to its average volume of 1,955,603. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The company's 50-day simple moving average is $79.29 and its two-hundred day simple moving average is $78.00. The company has a market capitalization of $20.31 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

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.