Raab & Moskowitz Asset Management LLC Reduces Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Raab & Moskowitz Asset Management LLC lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 5.8% in the fourth quarter, HoldingsChannel reports. The firm owned 4,288 shares of the company’s stock after selling 262 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $293,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of McCormick & Company, Incorporated by 2.8% in the third quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock valued at $260,108,000 after purchasing an additional 93,034 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of McCormick & Company, Incorporated by 2.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,221,637 shares of the company’s stock valued at $168,045,000 after purchasing an additional 46,063 shares during the period. Invesco Ltd. grew its holdings in shares of McCormick & Company, Incorporated by 15.4% in the third quarter. Invesco Ltd. now owns 1,828,576 shares of the company’s stock valued at $138,313,000 after purchasing an additional 244,211 shares during the period. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $92,340,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of McCormick & Company, Incorporated by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,317,845 shares of the company’s stock valued at $99,682,000 after purchasing an additional 19,962 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of NYSE MKC traded up $0.17 during midday trading on Friday, hitting $75.73. The company’s stock had a trading volume of 1,248,036 shares, compared to its average volume of 1,639,012. The business’s fifty day simple moving average is $71.61 and its two-hundred day simple moving average is $67.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The firm has a market capitalization of $20.33 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 3.88 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.22%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 64.12%.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the sale, the director now owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the sale, the director now owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the sale, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. Insiders have sold a total of 33,726 shares of company stock valued at $2,504,728 over the last 90 days. 22.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Consumer Edge lowered shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. 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 research note on Wednesday, March 27th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Tuesday, April 2nd. Finally, 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 research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued 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 price target of $77.88.

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.