Swedbank AB Sells 29,000 Shares of McCormick & Company, Incorporated $MKC

Swedbank AB reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 4.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 619,898 shares of the company’s stock after selling 29,000 shares during the quarter. Swedbank AB’s holdings in McCormick & Company, Incorporated were worth $42,221,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. WINTON GROUP Ltd lifted its holdings in shares of McCormick & Company, Incorporated by 76.9% in the 3rd quarter. WINTON GROUP Ltd now owns 37,500 shares of the company’s stock worth $2,509,000 after purchasing an additional 16,300 shares in the last quarter. Nuance Investments LLC bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth $15,388,000. Envestnet Asset Management Inc. lifted its stake in McCormick & Company, Incorporated by 3.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 878,886 shares of the company’s stock valued at $58,806,000 after acquiring an additional 29,418 shares in the last quarter. Cibc World Market Inc. bought a new position in McCormick & Company, Incorporated during the 3rd quarter valued at $3,819,000. Finally, Strengthening Families & Communities LLC lifted its stake in McCormick & Company, Incorporated by 3,178.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 33,048 shares of the company’s stock valued at $2,211,000 after acquiring an additional 32,040 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of the stock in a transaction dated Friday, April 10th. The shares were bought at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the purchase, the director directly owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This trade represents a 220.75% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Sanford C. Bernstein dropped their price objective on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. BTIG Research assumed coverage on McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They set a “neutral” rating on the stock. TD Cowen dropped their price objective on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Finally, JPMorgan Chase & Co. dropped their price objective on McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $64.27.

McCormick & Company, Incorporated Trading Up 0.0%

NYSE MKC opened at $47.82 on Monday. The stock has a market capitalization of $12.85 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 2.34 and a beta of 0.68. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $78.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. The business’s fifty day moving average is $51.10 and its 200-day moving average is $61.12.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s payout ratio is presently 31.48%.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.