Legal & General Group Plc Has $128.21 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Legal & General Group Plc reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,681,608 shares of the company's stock after selling 429,074 shares during the period. Legal & General Group Plc owned about 0.63% of McCormick & Company, Incorporated worth $128,206,000 at the end of the most recent quarter.

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

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the transaction, the director now owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, 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. In the last 90 days, insiders sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is currently owned by company insiders.

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McCormick & Company, Incorporated Price Performance

NYSE MKC traded down $2.31 during trading on Tuesday, hitting $75.29. 799,542 shares of the company's stock were exchanged, compared to its average volume of 1,944,938. The company has a market cap of $20.19 billion, a PE ratio of 25.68, a P/E/G 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. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The stock's 50 day moving average price is $79.54 and its two-hundred day moving average price is $78.25.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the company posted $0.63 earnings per share. The firm's quarterly revenue was up .2% on a year-over-year basis. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.45 dividend. 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 2.39%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MKC shares. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price 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, 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 research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated 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.