OMERS ADMINISTRATION Corp Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

OMERS ADMINISTRATION Corp trimmed its position in McCormick & Company, Incorporated (NYSE:MKC) by 29.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,519 shares of the company’s stock after selling 4,422 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in McCormick & Company, Incorporated were worth $802,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Curio Wealth LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $30,000. Twin Tree Management LP purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $33,000. Albion Financial Group UT purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $33,000. Lee Danner & Bass Inc. purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $37,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $38,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Up 1.0%

Shares of NYSE:MKC opened at $75.50 on Friday. The business’s 50-day moving average is $77.24 and its 200 day moving average is $77.48. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The firm has a market capitalization of $20.25 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.76 and a beta of 0.74. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (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 for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.38%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Analyst Ratings Changes

MKC has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.14.

Insider Activity at McCormick & Company, Incorporated

In other 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 value of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock valued at $4,898,101 in the last ninety days. Corporate insiders own 23.80% of the company’s stock.

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.