Russell Investments Group Ltd. Sells 15,698 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Russell Investments Group Ltd. lessened its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,592 shares of the company's stock after selling 15,698 shares during the period. Russell Investments Group Ltd. owned about 0.05% of McCormick & Company, Incorporated worth $11,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MKC. International Private Wealth Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 3.9% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company's stock worth $276,000 after buying an additional 136 shares during the period. Hazlett Burt & Watson Inc. raised its holdings in shares of McCormick & Company, Incorporated by 2.8% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock valued at $382,000 after acquiring an additional 137 shares in the last quarter. Empower Advisory Group LLC lifted its stake in McCormick & Company, Incorporated by 1.7% in the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock worth $641,000 after acquiring an additional 138 shares during the period. Hunter Associates Investment Management LLC boosted 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. Finally, Whittier Trust Co. of Nevada Inc. increased its position in McCormick & Company, Incorporated by 1.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company's stock valued at $755,000 after purchasing an additional 154 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This trade represents a 16.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction that occurred on 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 directly owns 2,266 shares in the company, valued at $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. Over the last three months, insiders have sold 80,842 shares of company stock worth $6,478,332. Corporate insiders own 23.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised 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. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays reduced their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Finally, Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded up $1.35 during mid-day trading on Thursday, hitting $74.89. 897,138 shares of the company traded hands, compared to its average volume of 1,949,182. The stock has a market cap of $20.08 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 3.76 and a beta of 0.75. The stock has a 50-day moving average price of $79.40 and a two-hundred day moving average price of $78.20. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The business had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.86%.

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.