Headlands Technologies LLC Trims Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Headlands Technologies LLC decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 91.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 593 shares of the company's stock after selling 6,255 shares during the period. Headlands Technologies LLC's holdings in McCormick & Company, Incorporated were worth $45,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $223,202,000. Amundi lifted its holdings in shares of McCormick & Company, Incorporated by 37.5% in the fourth quarter. Amundi now owns 1,372,446 shares of the company's stock worth $102,275,000 after buying an additional 374,559 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of McCormick & Company, Incorporated by 9,283.1% during the fourth quarter. Teacher Retirement System of Texas now owns 367,253 shares of the company's stock worth $27,999,000 after acquiring an additional 363,339 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in McCormick & Company, Incorporated by 321.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company's stock valued at $34,298,000 after acquiring an additional 343,070 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in McCormick & Company, Incorporated by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock valued at $2,419,653,000 after acquiring an additional 303,973 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Up 0.4 %

MKC stock traded up $0.30 during midday trading on Friday, reaching $75.84. 1,826,424 shares of the company traded hands, compared to its average volume of 1,948,125. The firm has a market capitalization of $20.34 billion, a price-to-earnings ratio of 25.89, a P/E/G 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. The business has a 50 day moving average of $79.53 and a 200-day moving average of $78.32. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

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 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 business's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.37%. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the company'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 transaction of $223,905.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now directly owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,842 shares of company stock worth $6,478,332. Insiders own 23.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on MKC. JPMorgan Chase & Co. boosted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. 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 report on Monday, January 27th. Finally, Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.