Bahl & Gaynor Inc. Sells 2,260 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Bahl & Gaynor Inc. lowered its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 285,504 shares of the company’s stock after selling 2,260 shares during the period. Bahl & Gaynor Inc. owned about 0.11% of McCormick & Company, Incorporated worth $19,534,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Legacy Financial Group LLC bought a new position in shares of McCormick & Company, Incorporated during the third quarter valued at $29,000. Anchor Investment Management LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $36,000. Milestone Investment Advisors LLC bought a new position in shares of McCormick & Company, Incorporated during the third quarter valued at $47,000. Private Trust Co. NA raised its stake in shares of McCormick & Company, Incorporated by 59.1% during the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after acquiring an additional 290 shares during the last quarter. Finally, Valley National Advisers Inc. increased its position in shares of McCormick & Company, Incorporated by 283.9% during the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after buying an additional 582 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of NYSE MKC traded up $0.17 during mid-day trading on Friday, reaching $75.73. 1,248,027 shares of the company’s stock traded hands, compared to its average volume of 2,053,336. The stock has a market cap of $20.33 billion, a P/E ratio of 28.90, a PEG ratio of 3.89 and a beta of 0.74. The business has a 50-day simple moving average of $71.61 and a 200 day simple moving average of $67.83. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $94.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders 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 dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, April 2nd. Citigroup increased 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 report on Wednesday, March 27th. JPMorgan Chase & Co. decreased their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Finally, 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 research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $77.88.

Insider Activity

In related news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now directly owns 5,594 shares of the company’s stock, valued at $430,738. The transaction was disclosed in a legal 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 the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now directly owns 5,594 shares of the company’s stock, valued at $430,738. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares in the company, valued at $1,868,997.24. The disclosure for this sale can be found here. Insiders sold 33,726 shares of company stock worth $2,504,728 over the last three months. 22.90% of the stock is currently owned by insiders.

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.