Sound Financial Strategies Group LLC Sells 1,946 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Sound Financial Strategies Group LLC decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 33.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,846 shares of the company’s stock after selling 1,946 shares during the quarter. Sound Financial Strategies Group LLC’s holdings in McCormick & Company, Incorporated were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of MKC. Alecta Tjanstepension Omsesidigt purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $92,340,000. Impax Asset Management Group plc increased its stake in shares of McCormick & Company, Incorporated by 157.2% during the fourth quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock valued at $72,749,000 after buying an additional 649,908 shares during the period. Fenimore Asset Management Inc. increased its stake in shares of McCormick & Company, Incorporated by 369.2% during the fourth quarter. Fenimore Asset Management Inc. now owns 695,031 shares of the company’s stock valued at $47,554,000 after buying an additional 546,911 shares during the period. Scopus Asset Management L.P. increased its stake in shares of McCormick & Company, Incorporated by 711.3% during the third quarter. Scopus Asset Management L.P. now owns 547,600 shares of the company’s stock valued at $41,420,000 after buying an additional 480,100 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of McCormick & Company, Incorporated by 183.2% during the third quarter. Acadian Asset Management LLC now owns 641,897 shares of the company’s stock valued at $48,535,000 after buying an additional 415,269 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MKC has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced 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. Barclays boosted their target price 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. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, April 2nd. Finally, Citigroup lifted 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.88.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the sale, the director now directly owns 5,594 shares of the company’s stock, valued at approximately $430,738. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the sale, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,726 shares of company stock valued at $2,504,728. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

MKC traded up $0.83 during midday trading on Wednesday, reaching $75.85. The company had a trading volume of 1,816,478 shares, compared to its average volume of 2,067,602. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average of $71.22 and a two-hundred day moving average of $67.69. The company has a market cap of $20.36 billion, a P/E ratio of 28.95, a P/E/G ratio of 3.83 and a beta of 0.74. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results 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 business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the business posted $0.59 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts predict 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 declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is presently 64.12%.

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.