McCormick & Company, Incorporated (NYSE:MKC) Holdings Reduced by Commerce Bank

Commerce Bank lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 36.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,497 shares of the company's stock after selling 5,961 shares during the period. Commerce Bank's holdings in McCormick & Company, Incorporated were worth $800,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This trade represents a 16.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares in the company, valued at $184,497.72. This represents a 54.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,842 shares of company stock worth $6,478,332. Corporate insiders own 23.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Barclays decreased their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price target for the company from $86.00 to $90.00 in a research report 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's stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated Stock Up 1.5 %

Shares of McCormick & Company, Incorporated stock opened at $75.78 on Wednesday. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The firm has a market capitalization of $20.32 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock's fifty day moving average is $79.26 and its 200-day moving average is $77.98.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the prior year, the business posted $0.63 EPS. The company's revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts anticipate 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 was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is 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.

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