Jefferies Financial Group Inc. Reduces Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Jefferies Financial Group Inc. trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 39.6% in the 4th quarter, Holdings Channel reports. The firm owned 7,320 shares of the company’s stock after selling 4,792 shares during the period. Jefferies Financial Group Inc.’s holdings in McCormick & Company, Incorporated were worth $558,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the transaction, the director now owns 247,437 shares of the company’s stock, valued at approximately $20,242,820.97. This represents a 16.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares in the company, 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 a total of 60,392 shares of company stock valued at $4,898,101 in the last quarter. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $75.50 on Friday. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The business’s fifty day simple moving average is $77.24 and its 200-day simple moving average is $77.49. The firm has a market cap of $20.25 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate 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 period last year, the company earned $0.63 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 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 21st. Stockholders of record on Monday, April 7th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Barclays dropped their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Finally, Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $83.14.

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.