Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Reduces Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,378 shares of the company’s stock after selling 1,789 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in McCormick & Company, Incorporated were worth $1,934,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Alecta Tjanstepension Omsesidigt acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $92,340,000. Impax Asset Management Group plc lifted its stake in shares of McCormick & Company, Incorporated by 157.2% in the 4th quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock valued at $72,749,000 after purchasing an additional 649,908 shares during the last quarter. Fenimore Asset Management Inc. lifted its stake in shares of McCormick & Company, Incorporated by 369.2% in the 4th quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock valued at $47,554,000 after purchasing an additional 546,911 shares during the last quarter. Scopus Asset Management L.P. lifted its stake in shares of McCormick & Company, Incorporated by 711.3% in the 3rd quarter. Scopus Asset Management L.P. now owns 547,600 shares of the company’s stock valued at $41,420,000 after purchasing an additional 480,100 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of McCormick & Company, Incorporated by 183.2% in the 3rd quarter. Acadian Asset Management LLC now owns 641,897 shares of the company’s stock valued at $48,535,000 after purchasing an additional 415,269 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the transaction, the director now directly owns 5,594 shares of the company’s stock, valued at approximately $430,738. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the completion of the sale, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the sale, the director now directly owns 5,594 shares of the company’s stock, valued at approximately $430,738. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock valued at $2,376,400 in the last ninety days. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded up $0.36 during mid-day trading on Tuesday, reaching $75.05. 826,564 shares of the stock were exchanged, compared to its average volume of 2,058,297. The company has a 50 day simple moving average of $70.80 and a 200-day simple moving average of $67.56. The stock has a market capitalization of $20.14 billion, a P/E ratio of 28.51, a P/E/G ratio of 3.79 and a beta of 0.74. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.24%. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MKC. Barclays upped their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Stifel Nicolaus increased their target price 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. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus target price of $77.88.

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.