Cambridge Trust Co. Sells 775 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Cambridge Trust Co. lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 46.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 884 shares of the company’s stock after selling 775 shares during the period. Cambridge Trust Co.’s holdings in McCormick & Company, Incorporated were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MKC. Legacy Financial Group LLC bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth $29,000. Anchor Investment Management LLC bought a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $36,000. Point72 Hong Kong Ltd purchased a new position in McCormick & Company, Incorporated in the 1st quarter worth about $44,000. ICA Group Wealth Management LLC purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth about $46,000. Finally, Milestone Investment Advisors LLC bought a new position in McCormick & Company, Incorporated during the 3rd quarter valued at about $47,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Up 1.7 %

NYSE MKC opened at $73.92 on Friday. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The stock has a market cap of $19.84 billion, a PE ratio of 28.21, a P/E/G ratio of 3.73 and a beta of 0.74. The stock’s 50 day moving average is $70.63 and its 200 day moving average is $67.51.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results 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. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm posted $0.59 EPS. McCormick & Company, Incorporated’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is presently 64.12%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction on 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 sale, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction on 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 owns 5,594 shares of the company’s stock, valued at approximately $430,738. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock worth $2,376,400 in the last quarter. 22.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MKC has been the subject of several research reports. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. Barclays lifted their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Argus upgraded 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. Finally, Citigroup raised their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated 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.