Thrivent Financial for Lutherans Sells 21,996 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Thrivent Financial for Lutherans reduced its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 26.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,718 shares of the company's stock after selling 21,996 shares during the period. Thrivent Financial for Lutherans' holdings in McCormick & Company, Incorporated were worth $4,705,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MKC. 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 acquiring an additional 136 shares during the period. Empower Advisory Group LLC increased its holdings in shares of 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 purchasing an additional 138 shares during the period. Hunter Associates Investment Management LLC raised its position in shares of 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 worth $954,000 after buying an additional 153 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in McCormick & Company, Incorporated by 3.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company's stock valued at $427,000 after buying an additional 169 shares during the period. Finally, Kingsview Wealth Management LLC grew its position in McCormick & Company, Incorporated by 4.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 4,192 shares of the company's stock worth $320,000 after buying an additional 170 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

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McCormick & Company, Incorporated Stock Down 0.2 %

MKC traded down $0.16 during midday trading on Friday, reaching $81.47. The company's stock had a trading volume of 2,176,119 shares, compared to its average volume of 1,901,729. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year 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 firm has a market capitalization of $21.85 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 3.76 and a beta of 0.71. The stock's 50-day moving average is $79.09 and its 200-day moving average is $78.88.

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). 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 company earned $0.63 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.86%.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares of the company's stock, valued at $475,814.31. The trade was a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 23.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. increased their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $83.75.

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.