LS Investment Advisors LLC cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 23.2% in the fourth quarter, Holdings Channel reports. The fund owned 31,195 shares of the company’s stock after selling 9,409 shares during the period. LS Investment Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $3,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. increased its position in shares of McCormick & Company, Incorporated by 81.9% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 1,629,070 shares of the company’s stock valued at $167,208,000 after acquiring an additional 733,375 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of McCormick & Company, Incorporated by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 1,026,505 shares of the company’s stock valued at $105,360,000 after purchasing an additional 11,005 shares in the last quarter. Swiss National Bank grew its holdings in shares of McCormick & Company, Incorporated by 4.8% in the fourth quarter. Swiss National Bank now owns 962,948 shares of the company’s stock valued at $98,134,000 after purchasing an additional 44,100 shares in the last quarter. Congress Asset Management Co. MA grew its holdings in shares of McCormick & Company, Incorporated by 5.1% in the fourth quarter. Congress Asset Management Co. MA now owns 815,348 shares of the company’s stock valued at $83,092,000 after purchasing an additional 39,266 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of McCormick & Company, Incorporated by 6.9% in the third quarter. Legal & General Group Plc now owns 721,107 shares of the company’s stock valued at $74,015,000 after purchasing an additional 46,561 shares in the last quarter. Institutional investors and hedge funds own 76.27% of the company’s stock.

In related news, VP Michael R. Smith sold 2,575 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $107.96, for a total value of $277,997.00. Following the completion of the transaction, the vice president now owns 17,312 shares in the company, valued at $1,869,003.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia A. Little sold 6,250 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $108.63, for a total transaction of $678,937.50. Following the completion of the transaction, the director now owns 15,497 shares of the company’s stock, valued at approximately $1,683,439.11. The disclosure for this sale can be found here. 15.30% of the stock is owned by insiders.

McCormick & Company, Incorporated (NYSE:MKC) opened at $101.84 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.83 and a debt-to-equity ratio of 1.73. The firm has a market cap of $13,351.73, a P/E ratio of 27.52, a P/E/G ratio of 2.23 and a beta of 0.61. McCormick & Company, Incorporated has a twelve month low of $90.25 and a twelve month high of $109.67.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 25th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.02. McCormick & Company, Incorporated had a net margin of 9.88% and a return on equity of 25.30%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. research analysts expect that McCormick & Company, Incorporated will post 4.88 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.08 dividend on an annualized basis and a yield of 2.04%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. McCormick & Company, Incorporated’s payout ratio is currently 56.22%.

A number of brokerages recently weighed in on MKC. UBS Group lifted their price objective on shares of McCormick & Company, Incorporated from $100.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $103.00 to $110.00 and gave the company a “hold” rating in a report on Friday, January 26th. Jefferies Group restated a “buy” rating and issued a $120.00 price objective on shares of McCormick & Company, Incorporated in a report on Thursday, January 25th. Deutsche Bank cut shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating and dropped their price objective for the company from $103.00 to $98.00 in a report on Friday, January 19th. Finally, Zacks Investment Research upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Friday, December 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $107.56.

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McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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

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