Cambridge Trust Co. Trims Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Cambridge Trust Co. lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 46.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 884 shares of the company’s stock after selling 775 shares during the quarter. Cambridge Trust Co.’s holdings in McCormick & Company, Incorporated were worth $60,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of McCormick & Company, Incorporated by 15.9% during the 1st quarter. American Century Companies Inc. now owns 5,072 shares of the company’s stock worth $506,000 after purchasing an additional 696 shares during the period. Vontobel Holding Ltd. boosted its position in shares of McCormick & Company, Incorporated by 28.1% during the first quarter. Vontobel Holding Ltd. now owns 6,448 shares of the company’s stock worth $627,000 after buying an additional 1,415 shares during the period. Sei Investments Co. boosted its position in shares of McCormick & Company, Incorporated by 1.0% during the first quarter. Sei Investments Co. now owns 108,139 shares of the company’s stock worth $10,803,000 after buying an additional 1,048 shares during the period. Prudential PLC acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at $543,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $313,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $73.92 on Friday. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. The firm has a market capitalization of $19.84 billion, a P/E ratio of 28.21, a P/E/G ratio of 3.73 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. The company’s fifty day moving average price is $70.63 and its 200 day moving average price is $67.51.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Analyst Ratings Changes

MKC has been the subject of a number of research analyst reports. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, April 2nd. Barclays increased their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Citigroup boosted their price target 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. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Finally, Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $77.88.

Insider Activity

In other news, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares in the company, valued at $1,868,997.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the sale, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patricia A. Little sold 20,000 shares of the stock in a transaction dated 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 owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,000 shares of company stock valued at $2,376,400. 22.90% of the stock is currently owned by company insiders.

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.