Sequoia Financial Advisors LLC Sells 583 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Sequoia Financial Advisors LLC cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.4% in the first quarter, HoldingsChannel reports. The fund owned 5,012 shares of the company’s stock after selling 583 shares during the period. Sequoia Financial Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Salem Investment Counselors Inc. grew its stake in shares of McCormick & Company, Incorporated by 610.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock valued at $32,000 after acquiring an additional 336 shares during the period. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $30,000. Ameriflex Group Inc. bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $33,000. Twin Tree Management LP bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $33,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $37,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Down 0.8%

NYSE MKC opened at $76.58 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The company has a market capitalization of $20.54 billion, a P/E ratio of 26.59, a P/E/G ratio of 3.71 and a beta of 0.68. McCormick & Company, Incorporated has a one year low of $69.00 and a one year high of $86.24. The stock has a 50 day moving average price of $74.39 and a 200-day moving average price of $76.60.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.35%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Citigroup dropped their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, June 17th. Finally, UBS Group began coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a “neutral” rating and a $83.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average target price of $84.13.

Insider Activity at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.