Mirae Asset Global Investments Co. Ltd. Reduces Position in McCormick & Company, Incorporated (NYSE:MKC)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 38.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 44,594 shares of the company’s stock after selling 28,189 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $3,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Legacy Financial Group LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at $29,000. Anchor Investment Management LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at $36,000. Point72 Hong Kong Ltd purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at $44,000. ICA Group Wealth Management LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at $46,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at $47,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. 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, March 27th. JPMorgan Chase & Co. lowered their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. 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 report on Tuesday, April 2nd. 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, March 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $77.88.

McCormick & Company, Incorporated Stock Up 0.7 %

NYSE MKC opened at $72.27 on Thursday. The stock’s 50-day moving average price is $70.31 and its 200-day moving average price is $67.48. 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 52 week low of $59.13 and a 52 week high of $94.39. The company has a market capitalization of $19.40 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 3.69 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred 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 sale, the director now owns 39,181 shares of the company’s stock, valued at approximately $2,554,601.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the sale, the director now owns 5,594 shares of the company’s stock, valued at approximately $430,738. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the sale, the director now directly owns 39,181 shares in the company, valued at approximately $2,554,601.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,000 shares of company stock valued at $2,376,400. 22.90% of the stock is owned by company insiders.

McCormick & Company, Incorporated 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.