Ameriprise Financial Inc. Sells 61,431 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Ameriprise Financial Inc. lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 28.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,235 shares of the company’s stock after selling 61,431 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.06% of McCormick & Company, Incorporated worth $11,692,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $30,000. Albion Financial Group UT acquired a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Twin Tree Management LP acquired a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Lee Danner & Bass Inc. bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at $37,000. Finally, Parvin Asset Management LLC acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth $38,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $75.50 on Monday. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 3.76 and a beta of 0.74. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $77.24 and a 200 day moving average price of $77.48.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.38%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Insider Buying and Selling

In related news, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. The trade was a 54.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katherine Jenkins sold 7,642 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. Insiders sold a total of 60,392 shares of company stock valued at $4,898,101 over the last three months. Company insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays lowered their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.14.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.