Russell Investments Group Ltd. Trims Stake in McCormick & Company, Incorporated (NYSE:MKC)

Russell Investments Group Ltd. lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 93,772 shares of the company’s stock after selling 2,930 shares during the quarter. Russell Investments Group Ltd.’s holdings in McCormick & Company, Incorporated were worth $6,414,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of McCormick & Company, Incorporated by 2.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,068 shares of the company’s stock worth $7,267,000 after buying an additional 2,146 shares in the last quarter. Mackenzie Financial Corp raised its holdings in McCormick & Company, Incorporated by 4.3% in the 3rd quarter. Mackenzie Financial Corp now owns 89,741 shares of the company’s stock valued at $6,788,000 after acquiring an additional 3,680 shares during the last quarter. Strs Ohio purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $1,504,000. IFM Investors Pty Ltd lifted its stake in shares of McCormick & Company, Incorporated by 7.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 48,954 shares of the company’s stock worth $3,703,000 after purchasing an additional 3,438 shares during the period. Finally, NBT Bank N A NY acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $469,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.8 %

Shares of McCormick & Company, Incorporated stock opened at $75.55 on Thursday. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The stock has a market cap of $20.28 billion, a price-to-earnings ratio of 28.84, a price-to-earnings-growth ratio of 3.87 and a beta of 0.73. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $72.73 and a 200 day moving average price of $68.64.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 64.12%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 39,181 shares in the company, valued at $2,554,601.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. Insiders sold 33,726 shares of company stock valued at $2,504,728 over the last 90 days. 22.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report 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 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 research report on Tuesday, April 2nd. Finally, Citigroup boosted their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.88.

About McCormick & Company, Incorporated

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.