Franklin Resources Inc. Trims Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Franklin Resources Inc. cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,733,894 shares of the company's stock after selling 146,147 shares during the period. Franklin Resources Inc. owned about 1.39% of McCormick & Company, Incorporated worth $284,672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of McCormick & Company, Incorporated by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock worth $2,419,653,000 after buying an additional 303,973 shares in the last quarter. State Street Corp lifted its holdings in shares of McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock worth $1,260,499,000 after acquiring an additional 1,114,706 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company's stock valued at $482,823,000 after purchasing an additional 54,018 shares in the last quarter. Norges Bank bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $223,202,000. Finally, Point72 Asset Management L.P. increased its position in McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock worth $127,115,000 after purchasing an additional 568,276 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

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Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now directly owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $4,090,500.00. Following the sale, the director now owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MKC. Barclays cut their target price 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 McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. 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. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated Stock Down 0.7 %

Shares of NYSE:MKC traded down $0.60 during trading on Thursday, reaching $80.69. 4,776,239 shares of the stock were exchanged, compared to its average volume of 1,902,414. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The stock has a fifty day moving average of $79.88 and a two-hundred day moving average of $78.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The firm has a market cap of $21.64 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released 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). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. McCormick & Company, Incorporated's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. Research analysts anticipate 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 disclosed 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 annualized dividend and a yield of 2.23%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

McCormick & Company, Incorporated Company 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.