Royal Fund Management LLC Sells 2,221 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Royal Fund Management LLC lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 33.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,447 shares of the company’s stock after selling 2,221 shares during the quarter. Royal Fund Management LLC’s holdings in McCormick & Company, Incorporated were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Northern Trust Corp boosted its stake in shares of McCormick & Company, Incorporated by 2.8% in the 3rd quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock valued at $260,108,000 after purchasing an additional 93,034 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of McCormick & Company, Incorporated by 2.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,221,637 shares of the company’s stock worth $168,045,000 after buying an additional 46,063 shares during the period. Invesco Ltd. lifted its stake in shares of McCormick & Company, Incorporated by 15.4% in the 3rd quarter. Invesco Ltd. now owns 1,828,576 shares of the company’s stock valued at $138,313,000 after acquiring an additional 244,211 shares during the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at about $92,340,000. Finally, Charles Schwab Investment Management Inc. grew its position in McCormick & Company, Incorporated by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,317,845 shares of the company’s stock worth $99,682,000 after acquiring an additional 19,962 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the sale, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the sale, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the company’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 owns 39,181 shares in the company, valued at approximately $2,554,601.20. The disclosure for this sale can be found here. Insiders have sold 33,726 shares of company stock valued at $2,504,728 over the last quarter. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.4 %

MKC traded up $0.31 on Friday, hitting $75.45. The company had a trading volume of 1,584,356 shares, compared to its average volume of 1,591,954. 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 has a 52-week low of $59.13 and a 52-week high of $94.39. The stock has a fifty day simple moving average of $72.26 and a 200-day simple moving average of $68.22. The firm has a market capitalization of $20.25 billion, a P/E ratio of 28.80, a P/E/G ratio of 3.85 and a beta of 0.73.

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 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 business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. As a group, equities 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 declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.42 per share. The ex-dividend date was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.23%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

Analysts Set New Price Targets

A number of 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. Citigroup raised their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. 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. Stifel Nicolaus raised their target price on 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, JPMorgan Chase & Co. cut their target price on 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently 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.