McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKCFree Report) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,788 shares of the company’s stock after selling 1,467 shares during the quarter. CIBC Asset Management Inc’s holdings in McCormick & Company, Incorporated were worth $2,380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Anchor Investment Management LLC acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth $36,000. VisionPoint Advisory Group LLC acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $44,000. 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 valued at $53,000 after buying an additional 582 shares in the last quarter. Private Trust Co. NA grew its stake in shares of McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after buying an additional 290 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of McCormick & Company, Incorporated by 72.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after buying an additional 461 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence Erik Kurzius sold 80,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total value of $5,900,000.00. Following the completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,695,277.50. The disclosure for this sale can be found here. Insiders sold 111,458 shares of company stock valued at $8,286,114 in the last ninety days. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.9 %

MKC opened at $68.58 on Friday. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. The stock has a market capitalization of $18.41 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 3.55 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. The business has a fifty day moving average price of $73.87 and a 200 day moving average price of $69.87.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. McCormick & Company, Incorporated’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 EPS. Sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 64.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, April 2nd. Barclays lifted their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Stifel Nicolaus lifted their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Finally, Citigroup boosted their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.88.

Get Our Latest Report on McCormick & Company, Incorporated

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.

Further Reading

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

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