McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd cut its position in McCormick & Company, Incorporated (NYSE:MKC) by 19.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 28,050 shares of the company’s stock after selling 6,773 shares during the period. McCormick & Company, Incorporated makes up 0.3% of Dynamic Technology Lab Private Ltd’s portfolio, making the stock its 27th largest position. Dynamic Technology Lab Private Ltd’s holdings in McCormick & Company, Incorporated were worth $2,139,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MKC. Curio Wealth LLC purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at $30,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $33,000. Twin Tree Management LP purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $33,000. Lee Danner & Bass Inc. acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth about $37,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at about $38,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MKC has been the topic of a number of research reports. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $83.14.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory Repas sold 2,750 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now directly owns 2,266 shares of the company’s stock, valued at approximately $184,497.72. The trade was a 54.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock worth $6,478,332 over the last ninety days. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $76.36 on Friday. The stock has a fifty day simple moving average of $79.91 and a 200-day simple moving average of $78.76. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The stock has a market cap of $20.48 billion, a PE ratio of 26.06, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is 61.86%.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.