Autus Asset Management LLC lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,866 shares of the company’s stock after selling 1,983 shares during the period. McCormick & Company, accounts for about 2.0% of Autus Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Autus Asset Management LLC’s holdings in McCormick & Company, were worth $9,742,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Johnson Financial Group Inc. acquired a new position in McCormick & Company, during the fourth quarter valued at about $131,000. Van ECK Associates Corp raised its position in McCormick & Company, by 10.5% in the fourth quarter. Van ECK Associates Corp now owns 1,580 shares of the company’s stock valued at $147,000 after buying an additional 150 shares during the last quarter. Charter Trust Co. acquired a new position in McCormick & Company, during the first quarter valued at about $202,000. Willingdon Wealth Management acquired a new position in McCormick & Company, during the first quarter valued at about $203,000. Finally, Stock Yards Bank & Trust Co. acquired a new position in McCormick & Company, during the first quarter valued at about $214,000. Hedge funds and other institutional investors own 72.99% of the company’s stock.
Shares of McCormick & Company, Incorporated (NYSE:MKC) traded up 0.71% during trading on Friday, reaching $100.82. 265,293 shares of the company were exchanged. McCormick & Company, Incorporated has a 1-year low of $88.64 and a 1-year high of $107.84. The firm has a market capitalization of $12.57 billion, a PE ratio of 27.23 and a beta of 0.48. The company’s 50-day moving average is $99.78 and its 200 day moving average is $96.23.
McCormick & Company, (NYSE:MKC) last posted its earnings results on Tuesday, March 28th. The company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. McCormick & Company, had a net margin of 10.71% and a return on equity of 27.97%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. McCormick & Company,’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts expect that McCormick & Company, Incorporated will post $4.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 24th. Investors of record on Monday, April 10th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, April 6th. This represents a $1.88 dividend on an annualized basis and a yield of 1.88%. McCormick & Company,’s payout ratio is 50.81%.
Several research firms have recently issued reports on MKC. Jefferies Group LLC reiterated a “hold” rating and set a $95.00 target price on shares of McCormick & Company, in a report on Friday. Zacks Investment Research lowered shares of McCormick & Company, from a “hold” rating to a “sell” rating in a report on Monday, April 3rd. JPMorgan Chase & Co. upgraded shares of McCormick & Company, from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $91.00 to $96.00 in a report on Wednesday, April 5th. Edward Jones upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a report on Thursday, April 6th. Finally, Deutsche Bank AG began coverage on shares of McCormick & Company, in a report on Wednesday, February 15th. They set a “hold” rating and a $102.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $101.44.
In related news, Director Alan D. Wilson sold 207,531 shares of the stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $99.83, for a total transaction of $20,717,819.73. Following the completion of the sale, the director now owns 194,552 shares of the company’s stock, valued at $19,422,126.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maritza Gomez Montiel bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average cost of $99.62 per share, with a total value of $249,050.00. Following the transaction, the director now directly owns 2,500 shares of the company’s stock, valued at $249,050. The disclosure for this purchase can be found here. Corporate insiders own 13.70% of the company’s stock.
McCormick & Company, Company Profile
McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.
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