Mutual of America Capital Management LLC Sells 1,513 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Mutual of America Capital Management LLC decreased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,723 shares of the company’s stock after selling 1,513 shares during the period. Mutual of America Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Financial Counselors Inc. grew its stake in shares of McCormick & Company, Incorporated by 3.4% in the fourth quarter. Financial Counselors Inc. now owns 85,471 shares of the company’s stock worth $5,848,000 after acquiring an additional 2,825 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of McCormick & Company, Incorporated by 157.2% in the fourth quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock worth $72,749,000 after acquiring an additional 649,908 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 76.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,270 shares of the company’s stock worth $429,000 after acquiring an additional 2,708 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of McCormick & Company, Incorporated by 7,344.4% in the fourth quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock worth $7,946,000 after acquiring an additional 114,572 shares during the last quarter. Finally, Valley National Advisers Inc. grew its stake in shares of McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after acquiring an additional 582 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MKC. Citigroup raised their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, April 2nd. Stifel Nicolaus lifted their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Finally, Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.88.

Insider Activity

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the transaction, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the transaction, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, March 28th. The shares were 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 of the company’s stock, valued at $430,738. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,000 shares of company stock worth $2,376,400. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.7 %

Shares of NYSE:MKC opened at $73.92 on Friday. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. The company’s fifty day moving average is $70.63 and its 200-day moving average is $67.51. The company has a market capitalization of $19.84 billion, a PE ratio of 28.21, a P/E/G ratio of 3.71 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.27%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

McCormick & Company, Incorporated Company 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.