McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,488 shares of the company's stock after selling 17,889 shares during the period. Prudential Financial Inc. owned about 0.05% of McCormick & Company, Incorporated worth $10,558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. International Private Wealth Advisors LLC increased its holdings in McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company's stock worth $276,000 after purchasing an additional 136 shares during the period. Empower Advisory Group LLC increased its stake in shares of McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock worth $641,000 after buying an additional 138 shares during the period. Hunter Associates Investment Management LLC raised its holdings in McCormick & Company, Incorporated by 1.2% in the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company's stock valued at $954,000 after acquiring an additional 153 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in McCormick & Company, Incorporated by 1.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company's stock worth $755,000 after acquiring an additional 154 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in McCormick & Company, Incorporated by 3.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company's stock worth $427,000 after acquiring an additional 169 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

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McCormick & Company, Incorporated Stock Performance

MKC stock traded down $0.12 on Wednesday, hitting $82.13. The company's stock had a trading volume of 305,676 shares, compared to its average volume of 2,193,168. The stock has a market cap of $22.02 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. The firm has a 50 day moving average of $79.59 and a two-hundred day moving average of $78.79. 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 1 year low of $66.88 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its 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 business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. McCormick & Company, Incorporated's quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. Equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. boosted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. Finally, Barclays dropped their price target 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 assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $83.75.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 23.80% of the company's stock.

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.