Signaturefd LLC Sells 1,939 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Signaturefd LLC lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 22.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,836 shares of the company’s stock after selling 1,939 shares during the period. Signaturefd LLC’s holdings in McCormick & Company, Incorporated were worth $468,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MKC. Alecta Tjanstepension Omsesidigt bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $92,340,000. Impax Asset Management Group plc lifted its stake in shares of McCormick & Company, Incorporated by 157.2% in 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. lifted its stake in shares of McCormick & Company, Incorporated by 369.2% in 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. lifted its stake in shares of McCormick & Company, Incorporated by 711.3% in 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 lifted its stake in shares of McCormick & Company, Incorporated by 183.2% in 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. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $75.85 on Thursday. The firm has a market cap of $20.36 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 3.85 and a beta of 0.74. The company has a 50 day moving average of $71.22 and a 200-day moving average of $67.69. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. 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 posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. On average, equities analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citigroup raised their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. Barclays raised their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Tuesday, April 2nd. Finally, Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $77.88.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. Insiders sold a total of 33,726 shares of company stock valued at $2,504,728 over the last quarter. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Company Profile

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.