American International Group Inc. Has $5.44 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

American International Group Inc. lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,444 shares of the company’s stock after selling 1,468 shares during the period. American International Group Inc.’s holdings in McCormick & Company, Incorporated were worth $5,436,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Anchor Investment Management LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $36,000. VisionPoint Advisory Group LLC acquired a new stake in McCormick & Company, Incorporated in the fourth quarter worth about $44,000. Valley National Advisers Inc. raised its holdings in McCormick & Company, Incorporated by 283.9% during the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares during the last quarter. Private Trust Co. NA lifted its position in McCormick & Company, Incorporated by 59.1% during the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after purchasing an additional 290 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in shares of McCormick & Company, Incorporated by 72.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after purchasing an additional 461 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of recent research reports. Barclays boosted their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Stifel Nicolaus increased their price target 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. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their price target for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. Finally, Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $78.00.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Patricia A. Little sold 20,000 shares of the company’s 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 completion of the transaction, the director now directly owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.57, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. Insiders have sold 111,458 shares of company stock valued at $8,286,114 in the last 90 days. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Up 0.2 %

Shares of McCormick & Company, Incorporated stock opened at $68.68 on Friday. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. 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 has a market capitalization of $18.43 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 3.56 and a beta of 0.74. The business has a 50-day moving average of $72.50 and a two-hundred day moving average of $70.08.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.84 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

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.