Securian Asset Management Inc. Sells 2,097 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Securian Asset Management Inc. lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,900 shares of the company’s stock after selling 2,097 shares during the quarter. Securian Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $1,088,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. KFG Wealth Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 3.1% during the fourth quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock worth $358,000 after buying an additional 158 shares during the last quarter. Beaumont Financial Advisors LLC raised its stake in McCormick & Company, Incorporated by 4.5% during the 4th quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock valued at $252,000 after purchasing an additional 159 shares during the last quarter. PFG Investments LLC boosted its holdings in McCormick & Company, Incorporated by 2.6% in the 4th quarter. PFG Investments LLC now owns 6,981 shares of the company’s stock valued at $478,000 after purchasing an additional 179 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in McCormick & Company, Incorporated by 3.2% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,205 shares of the company’s stock valued at $425,000 after purchasing an additional 195 shares during the period. Finally, Palisade Asset Management LLC grew its position in McCormick & Company, Incorporated by 0.5% in the 4th quarter. Palisade Asset Management LLC now owns 42,172 shares of the company’s stock worth $2,885,000 after purchasing an additional 200 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citigroup upped their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Barclays lifted their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. cut their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Finally, Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $77.88.

McCormick & Company, Incorporated Trading Down 0.4 %

Shares of MKC opened at $74.00 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 3.81 and a beta of 0.73. The stock has a fifty day moving average price of $73.99 and a two-hundred day moving average price of $69.43. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the company earned $0.59 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a $0.42 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.27%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares in the company, valued at approximately $430,738. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total transaction of $207,386.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Maritza Gomez Montiel sold 7,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the transaction, the director now owns 5,594 shares of the company’s stock, valued at $430,738. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,458 shares of company stock worth $2,386,114. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated 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.