Rathbones Group PLC Cuts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Rathbones Group PLC decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 77.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,000 shares of the company's stock after selling 13,627 shares during the period. Rathbones Group PLC's holdings in McCormick & Company, Incorporated were worth $303,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $223,202,000. Invesco Ltd. increased its stake in McCormick & Company, Incorporated by 17.6% during the 4th quarter. Invesco Ltd. now owns 2,641,812 shares of the company's stock valued at $201,412,000 after purchasing an additional 396,214 shares in the last quarter. Amundi lifted its stake in shares of McCormick & Company, Incorporated by 37.5% in the fourth quarter. Amundi now owns 1,372,446 shares of the company's stock worth $102,275,000 after buying an additional 374,559 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in McCormick & Company, Incorporated by 9,283.1% during the 4th quarter. Teacher Retirement System of Texas now owns 367,253 shares of the company's stock valued at $27,999,000 after purchasing an additional 363,339 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of McCormick & Company, Incorporated by 321.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 449,870 shares of the company's stock valued at $34,298,000 after purchasing an additional 343,070 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MKC. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their price target 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 reduced their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated Trading Down 2.0 %

Shares of NYSE:MKC traded down $1.54 during trading on Tuesday, hitting $76.06. The company had a trading volume of 372,112 shares, compared to its average volume of 2,319,689. The company has a fifty day simple moving average of $79.54 and a two-hundred day simple moving average of $78.25. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The stock has a market cap of $20.40 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business earned $0.63 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. As a group, equities 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. Stockholders of record on Monday, April 7th will be given a $0.45 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.37%. McCormick & Company, Incorporated's payout ratio is presently 61.86%.

Insider Activity

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business'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 sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,842 shares of company stock worth $6,478,332. Corporate insiders own 23.80% of the company's stock.

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.