McCormick & Company, Incorporated (NYSE:MKC) Position Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,723 shares of the company’s stock after selling 1,513 shares during the quarter. Mutual of America Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,307,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Legacy Financial Group LLC bought a new position in McCormick & Company, Incorporated during the 3rd quarter valued at $29,000. Anchor Investment Management LLC bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at $36,000. Point72 Hong Kong Ltd bought a new position in McCormick & Company, Incorporated during the 1st quarter valued at $44,000. ICA Group Wealth Management LLC bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at $46,000. Finally, Milestone Investment Advisors LLC bought a new position in McCormick & Company, Incorporated during the 3rd quarter valued at $47,000. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now owns 5,594 shares of the company’s stock, valued at approximately $430,738. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now owns 5,594 shares of the company’s stock, valued at approximately $430,738. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the transaction, the director now directly owns 39,181 shares in the company, valued at approximately $2,554,601.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,000 shares of company stock valued at $2,376,400. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.7 %

MKC stock opened at $73.92 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The firm’s 50-day simple moving average is $70.63 and its 200 day simple moving average is $67.51. The stock has a market cap of $19.84 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 3.71 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.27%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MKC shares. Citigroup increased their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Barclays increased their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $77.88.

About McCormick & Company, Incorporated

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.