McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Haverford Trust Co

Haverford Trust Co reduced its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 17.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 298,046 shares of the company's stock after selling 63,100 shares during the period. Haverford Trust Co owned 0.11% of McCormick & Company, Incorporated worth $22,723,000 as of its most recent SEC filing.

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

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 23.80% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

A number of research firms recently issued reports on MKC. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. 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 report on Monday, January 27th. Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research report on Friday, January 24th. Finally, TD Cowen upgraded 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of "Hold" and a consensus target price of $83.75.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded down $0.16 during midday trading on Friday, hitting $81.47. The stock had a trading volume of 2,176,119 shares, compared to its average volume of 1,899,000. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. 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 stock has a 50 day moving average price of $79.26 and a two-hundred day moving average price of $78.87. The company has a market capitalization of $21.85 billion, a PE ratio of 27.80, a P/E/G ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data 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 net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the prior year, the firm posted $0.63 EPS. McCormick & Company, Incorporated's revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 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.