Rodgers Brothers Inc. Has $5.71 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Rodgers Brothers Inc. trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 74,953 shares of the company’s stock after selling 2,146 shares during the period. Rodgers Brothers Inc.’s holdings in McCormick & Company, Incorporated were worth $5,714,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MKC. D.A. Davidson & CO. grew its holdings in McCormick & Company, Incorporated by 3.7% during the third quarter. D.A. Davidson & CO. now owns 14,253 shares of the company’s stock valued at $1,173,000 after purchasing an additional 503 shares during the last quarter. Bridgewater Associates LP bought a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at approximately $348,000. Public Sector Pension Investment Board boosted its stake in McCormick & Company, Incorporated by 13.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,019 shares of the company’s stock valued at $907,000 after purchasing an additional 1,300 shares during the period. Alethea Capital Management LLC acquired a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at approximately $347,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth approximately $13,994,000. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MKC has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday. TD Cowen raised 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 report on Wednesday, January 8th. Finally, Barclays decreased their target price on shares of 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average target price of $83.75.

McCormick & Company, Incorporated Stock Down 0.2 %

MKC opened at $81.47 on Monday. The firm has a market cap of $21.85 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 3.76 and a beta of 0.71. The firm’s 50-day simple moving average is $79.26 and its 200-day simple moving average is $78.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. 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 analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business posted $0.63 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated 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.