MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 626 Shares of McCormick & Company, Incorporated (NYSE:MKC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,753 shares of the company’s stock after selling 626 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in McCormick & Company, Incorporated were worth $2,573,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MKC. Curio Wealth LLC bought a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $30,000. Albion Financial Group UT bought a new stake in McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Twin Tree Management LP purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $33,000. Lee Danner & Bass Inc. purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $37,000. Finally, Parvin Asset Management LLC bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a 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 on the stock in a research report on Monday, January 27th. Finally, Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.14.

Insiders Place Their Bets

In related news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on 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 completion of the sale, the director now owns 247,437 shares of the company’s stock, valued at $20,242,820.97. The trade was a 16.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,392 shares of company stock worth $4,898,101 over the last three months. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $74.13 on Wednesday. The business’s fifty day moving average is $76.96 and its 200 day moving average is $77.43. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The company has a market capitalization of $19.88 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data 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 return on equity of 14.89% and a net margin of 11.73%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the business earned $0.63 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

McCormick & Company, Incorporated Company 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.