Lee Danner & Bass Inc. cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.7% during the first quarter, Holdings Channel reports. The fund owned 15,215 shares of the company’s stock after selling 100 shares during the period. Lee Danner & Bass Inc.’s holdings in McCormick & Company, were worth $1,484,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in shares of McCormick & Company, during the fourth quarter valued at about $131,000. Van ECK Associates Corp raised its position in shares of 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 shares of McCormick & Company, during the first quarter valued at about $202,000. Willingdon Wealth Management acquired a new position in shares of McCormick & Company, during the first quarter valued at about $203,000. Finally, Stock Yards Bank & Trust Co. acquired a new position in shares of McCormick & Company, during the first quarter valued at about $214,000. Institutional investors own 72.99% of the company’s stock.
Shares of McCormick & Company, Incorporated (NYSE:MKC) traded up 0.71% during midday trading on Friday, reaching $100.82. The company had a trading volume of 265,293 shares. The company has a market capitalization of $12.57 billion, a PE ratio of 27.23 and a beta of 0.48. McCormick & Company, Incorporated has a one year low of $88.64 and a one year high of $107.84. The company has a 50 day moving average of $99.78 and a 200 day moving average of $96.23.
McCormick & Company, (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. McCormick & Company, had a return on equity of 27.97% and a net margin of 10.71%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the company earned $0.74 earnings per share. McCormick & Company,’s revenue was up 1.3% compared to the same quarter last year. Analysts predict that McCormick & Company, Incorporated will post $4.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 24th. Shareholders of record on Monday, April 10th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.88%. The ex-dividend date was Thursday, April 6th. McCormick & Company,’s dividend payout ratio (DPR) is 50.81%.
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Several equities analysts have recently issued reports on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 price target on shares of McCormick & Company, in a research note on Friday. Zacks Investment Research lowered McCormick & Company, from a “hold” rating to a “sell” rating in a research report on Monday, April 3rd. JPMorgan Chase & Co. upgraded McCormick & Company, from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $91.00 to $96.00 in a research report on Wednesday, April 5th. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, April 6th. Finally, Deutsche Bank AG started coverage on McCormick & Company, in a research report on Wednesday, February 15th. They set a “hold” rating and a $102.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $101.44.
In other news, Director Maritza Gomez Montiel acquired 2,500 shares of McCormick & Company, stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average cost of $99.62 per share, with a total value of $249,050.00. Following the completion of the acquisition, the director now owns 2,500 shares in the company, valued at $249,050. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alan D. Wilson sold 207,531 shares of the stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $99.83, for a total value of $20,717,819.73. Following the transaction, the director now directly owns 194,552 shares of the company’s stock, valued at $19,422,126.16. The disclosure for this sale can be found here. 13.70% of the stock is currently owned by corporate insiders.
About McCormick & Company,
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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