McCormick & Company, Incorporated (NYSE:MKC) Stock Position Lowered by Franklin Resources Inc.

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

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

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Gregory Repas sold 2,750 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now owns 2,266 shares of the company's stock, valued at approximately $184,497.72. The trade was a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock worth $6,478,332 over the last quarter. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 5.5 %

NYSE:MKC traded down $4.48 on Friday, reaching $76.36. The stock had a trading volume of 3,894,635 shares, compared to its average volume of 1,911,714. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The stock has a market cap of $20.48 billion, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. 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 has a 50-day moving average of $79.91 and a 200 day moving average of $78.72.

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 for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the business posted $0.63 EPS. The firm's quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MKC shares. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays cut 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 report on Monday, January 27th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $83.14.

About McCormick & Company, Incorporated

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.