Rockefeller Capital Management L.P. Sells 7,021 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Rockefeller Capital Management L.P. decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,237 shares of the company’s stock after selling 7,021 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.05% of McCormick & Company, Incorporated worth $10,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MKC. Vanguard Group Inc. boosted its stake in shares of McCormick & Company, Incorporated by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company’s stock valued at $2,419,653,000 after purchasing an additional 303,973 shares in the last quarter. Geode Capital Management LLC grew its holdings in McCormick & Company, Incorporated by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company’s stock worth $458,114,000 after acquiring an additional 137,679 shares during the last quarter. Norges Bank bought a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $223,202,000. Invesco Ltd. raised its stake in shares of McCormick & Company, Incorporated by 17.6% during the fourth quarter. Invesco Ltd. now owns 2,641,812 shares of the company’s stock valued at $201,412,000 after acquiring an additional 396,214 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of McCormick & Company, Incorporated by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company’s stock valued at $115,081,000 after acquiring an additional 46,411 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, Barclays decreased their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.14.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the transaction, the director now owns 247,437 shares in the company, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares in the company, valued at $475,814.31. This represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock valued at $6,478,332 over the last ninety days. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $73.58 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a fifty day moving average of $79.40 and a 200-day moving average of $78.20. The firm has a market capitalization of $19.73 billion, a P/E ratio of 25.11, a P/E/G ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.45%. McCormick & Company, Incorporated’s dividend payout ratio is 61.86%.

About McCormick & Company, Incorporated

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.