Mackay Shields LLC Sells 1,346 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Mackay Shields LLC reduced its stake in shares of McCormick & Company, Incorporated (NYSE:MKCGet Rating) by 3.6% in the 1st quarter, Holdings Channel reports. The firm owned 35,991 shares of the company’s stock after selling 1,346 shares during the quarter. Mackay Shields LLC’s holdings in McCormick & Company, Incorporated were worth $3,592,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Tcwp LLC bought a new position in McCormick & Company, Incorporated during the 1st quarter worth $28,000. Confluence Wealth Services Inc. bought a new position in McCormick & Company, Incorporated during the 4th quarter worth $29,000. Western Pacific Wealth Management LP raised its position in McCormick & Company, Incorporated by 50.0% during the 1st quarter. Western Pacific Wealth Management LP now owns 300 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Lumature Wealth Partners LLC raised its position in McCormick & Company, Incorporated by 65.3% during the 4th quarter. Lumature Wealth Partners LLC now owns 324 shares of the company’s stock worth $31,000 after purchasing an additional 128 shares during the last quarter. Finally, Riverview Trust Co bought a new position in shares of McCormick & Company, Incorporated in the 1st quarter worth about $31,000. 78.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MKC. Deutsche Bank Aktiengesellschaft lowered their price objective on McCormick & Company, Incorporated from $85.00 to $79.00 and set a “hold” rating for the company in a research report on Thursday. TheStreet lowered McCormick & Company, Incorporated from a “b” rating to a “c+” rating in a research report on Wednesday, June 15th. Finally, Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Four analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $97.00.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $79.30 on Friday. McCormick & Company, Incorporated has a one year low of $77.67 and a one year high of $107.35. The firm has a market capitalization of $21.28 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 5.11 and a beta of 0.51. The business has a 50-day simple moving average of $85.97 and a 200 day simple moving average of $92.21. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last issued its earnings results on Wednesday, June 29th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.17). McCormick & Company, Incorporated had a net margin of 10.78% and a return on equity of 16.48%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.02 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Monday, July 11th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Friday, July 8th. McCormick & Company, Incorporated’s payout ratio is 58.50%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 10,580 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total transaction of $893,375.20. Following the completion of the transaction, the director now owns 12,660 shares in the company, valued at approximately $1,069,010.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.90% of the stock is currently owned by corporate insiders.

About McCormick & Company, Incorporated

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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.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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