McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 16.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,282 shares of the company's stock after selling 17,341 shares during the quarter. Wellington Management Group LLP's holdings in McCormick & Company, Incorporated were worth $6,246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. KFG Wealth Management LLC increased its stake in shares of McCormick & Company, Incorporated by 3.1% in the fourth quarter. KFG Wealth Management LLC now owns 5,229 shares of the company's stock valued at $358,000 after buying an additional 158 shares during the period. Beaumont Financial Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 4.5% in the fourth quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company's stock valued at $252,000 after buying an additional 159 shares during the period. PFG Investments LLC increased its stake in shares of McCormick & Company, Incorporated by 2.6% in the fourth quarter. PFG Investments LLC now owns 6,981 shares of the company's stock valued at $478,000 after buying an additional 179 shares during the period. Kornitzer Capital Management Inc. KS increased its position in McCormick & Company, Incorporated by 3.2% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,205 shares of the company's stock valued at $425,000 after purchasing an additional 195 shares during the period. Finally, Palisade Asset Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 0.5% in the 4th quarter. Palisade Asset Management LLC now owns 42,172 shares of the company's stock valued at $2,885,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 80,000 shares of the business's stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the sale, the director now directly owns 199,258 shares of the company's stock, valued at $14,695,277.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the business's stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the completion of the transaction, the director now owns 199,258 shares in the company, valued at $14,695,277.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the business's stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,458 shares of company stock valued at $7,747,114. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Up 0.5 %

Shares of NYSE MKC traded up $0.34 during mid-day trading on Friday, hitting $70.94. 4,136,213 shares of the stock traded hands, compared to its average volume of 2,226,184. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.30 and a current ratio of 0.69. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $90.83. The company has a market cap of $19.04 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 3.70 and a beta of 0.74. The stock has a fifty day moving average price of $72.19 and a 200-day moving average price of $70.17.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The firm's revenue was down 1.0% on a year-over-year basis. Research analysts anticipate that McCormick & Company, Incorporated will post 2.84 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Monday, July 8th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.31%.

Analyst Ratings Changes

Several research firms have recently weighed in on MKC. Barclays lifted their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 28th. Argus raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and set a $88.00 target price for the company in a research report on Tuesday, April 2nd. TD Cowen cut their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a "hold" rating for the company in a research note on Monday, June 24th. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, March 27th. Finally, Citigroup upgraded McCormick & Company, Incorporated from a "sell" rating to a "neutral" rating and raised their target price for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and a consensus price target of $76.25.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.