L. Roy Papp & Associates LLP Lowers Holdings in McCormick & Company, Incorporated (NYSE:MKC)

L. Roy Papp & Associates LLP decreased its holdings in McCormick & Company, Incorporated (NYSE:MKCFree Report) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 40,596 shares of the company’s stock after selling 1,760 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in McCormick & Company, Incorporated were worth $2,778,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MKC. Union Savings Bank acquired a new position in McCormick & Company, Incorporated in the 2nd quarter worth about $27,000. Legacy Financial Group LLC acquired a new position in McCormick & Company, Incorporated in the 3rd quarter worth about $29,000. Anchor Investment Management LLC acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth about $36,000. Point72 Hong Kong Ltd acquired a new position in McCormick & Company, Incorporated in the 1st quarter worth about $44,000. Finally, ICA Group Wealth Management LLC acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth about $46,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Buying and Selling

In related news, Director Maritza Gomez Montiel sold 7,000 shares of the 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 in the company, valued at $430,738. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the transaction, the director now directly owns 39,181 shares in the company, valued at $2,554,601.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 5,594 shares of the company’s stock, valued at $430,738. The disclosure for this sale can be found here. 22.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday. Citigroup increased their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday. Finally, Barclays increased their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $76.43.

View Our Latest Analysis on MKC

McCormick & Company, Incorporated Price Performance

MKC stock opened at $76.81 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.28. The business has a 50 day simple moving average of $68.42 and a 200-day simple moving average of $67.82. The firm has a market capitalization of $20.60 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 3.97 and a beta of 0.73. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.83 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.19%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

McCormick & Company, Incorporated Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McCormick & Company, Incorporated (NYSE:MKCFree Report).

Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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