Nuance Investments LLC Sells 237,314 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Nuance Investments LLC trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 39.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 364,020 shares of the company's stock after selling 237,314 shares during the quarter. McCormick & Company, Incorporated accounts for about 1.1% of Nuance Investments LLC's holdings, making the stock its 27th largest position. Nuance Investments LLC owned about 0.14% of McCormick & Company, Incorporated worth $27,753,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wellington Management Group LLP grew its stake in McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company's stock valued at $11,500,000 after purchasing an additional 24,881 shares during the period. DJE Kapital AG bought a new position in McCormick & Company, Incorporated during the fourth quarter valued at about $4,228,000. SBI Securities Co. Ltd. purchased a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $234,000. Qsemble Capital Management LP bought a new stake in McCormick & Company, Incorporated in the third quarter worth about $1,104,000. Finally, Asset Management One Co. Ltd. boosted its stake in McCormick & Company, Incorporated by 16.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company's stock valued at $10,547,000 after acquiring an additional 19,491 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

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McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC traded down $0.16 during trading on Friday, reaching $81.47. The company had a trading volume of 2,176,119 shares, compared to its average volume of 1,899,000. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month 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 market capitalization of $21.85 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The company has a fifty day moving average of $79.26 and a two-hundred day moving average of $78.83.

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 net margin of 11.73% and a return on equity of 14.89%. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm 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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Insiders Place Their Bets

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 23.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of 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. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Barclays lowered 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 research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of "Hold" and a consensus target price of $83.75.

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.