Mutual of America Capital Management LLC Sells 847 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Mutual of America Capital Management LLC trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,381 shares of the company’s stock after selling 847 shares during the period. Mutual of America Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Madison Investment Advisors LLC bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $1,456,000. Natixis Advisors LLC raised its holdings in McCormick & Company, Incorporated by 6.7% during the 4th quarter. Natixis Advisors LLC now owns 85,239 shares of the company’s stock worth $6,499,000 after buying an additional 5,349 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in McCormick & Company, Incorporated by 18.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,790 shares of the company’s stock valued at $594,000 after buying an additional 1,229 shares in the last quarter. Vinva Investment Management Ltd bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $933,000. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of McCormick & Company, Incorporated by 2.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 431,853 shares of the company’s stock valued at $32,924,000 after buying an additional 10,901 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MKC shares. UBS Group began coverage on shares of McCormick & Company, Incorporated in a report on Monday, June 16th. They set a “neutral” rating and a $83.00 price objective on the stock. Citigroup lowered their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, June 17th. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus target price of $84.13.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $71.43 on Friday. McCormick & Company, Incorporated has a 12 month low of $69.98 and a 12 month high of $86.24. The company’s fifty day simple moving average is $73.69 and its 200-day simple moving average is $76.14. The firm has a market cap of $19.17 billion, a PE ratio of 24.80, a P/E/G ratio of 3.45 and a beta of 0.68. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, July 7th. This represents a $1.80 annualized dividend and a yield of 2.52%. McCormick & Company, Incorporated’s payout ratio is presently 62.50%.

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.