Intech Investment Management LLC Has $1.77 Million Position in McCormick & Company, Incorporated $MKC

Intech Investment Management LLC lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 78.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,938 shares of the company’s stock after selling 96,969 shares during the quarter. Intech Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,767,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rafferty Asset Management LLC increased its stake in shares of McCormick & Company, Incorporated by 0.7% in the third quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock valued at $1,443,000 after buying an additional 157 shares during the period. Ransom Advisory Ltd increased its position in McCormick & Company, Incorporated by 3.6% during the 4th quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock valued at $315,000 after purchasing an additional 160 shares during the period. First Affirmative Financial Network increased its position in McCormick & Company, Incorporated by 3.0% during the 3rd quarter. First Affirmative Financial Network now owns 6,252 shares of the company’s stock valued at $418,000 after purchasing an additional 181 shares during the period. Modern Wealth Management LLC increased its position in McCormick & Company, Incorporated by 5.9% during the 2nd quarter. Modern Wealth Management LLC now owns 3,258 shares of the company’s stock valued at $247,000 after purchasing an additional 181 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in McCormick & Company, Incorporated by 1.2% during the 4th quarter. Crossmark Global Holdings Inc. now owns 15,653 shares of the company’s stock valued at $1,066,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Sanford C. Bernstein decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. BTIG Research assumed coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They set a “neutral” rating for the company. HSBC decreased their target price on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Finally, Zacks Research raised shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.36.

Insider Activity

In other McCormick & Company, Incorporated news, Director Gavin Hattersley purchased 2,000 shares of the business’s stock in a transaction on Friday, April 10th. The shares were purchased at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the acquisition, the director owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This represents a 220.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $46.64 on Friday. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 2.27 and a beta of 0.65. McCormick & Company, Incorporated has a 52-week low of $44.82 and a 52-week high of $78.16. The stock’s 50 day moving average price is $49.58 and its two-hundred day moving average price is $59.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio is presently 31.48%.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private?label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.