Sentry Investment Management LLC reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 4.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,069 shares of the company’s stock after selling 389 shares during the period. Sentry Investment Management LLC’s holdings in McCormick & Company, were worth $787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Parnassus Investments CA raised its position in shares of McCormick & Company, by 14.7% in the first quarter. Parnassus Investments CA now owns 2,426,180 shares of the company’s stock valued at $230,627,000 after buying an additional 310,021 shares during the last quarter. Norges Bank acquired a new position in shares of McCormick & Company, during the fourth quarter valued at about $112,107,000. Bank of New York Mellon Corp raised its position in shares of McCormick & Company, by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 1,061,636 shares of the company’s stock valued at $103,563,000 after buying an additional 11,648 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of McCormick & Company, by 18.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 982,122 shares of the company’s stock valued at $91,662,000 after buying an additional 155,398 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of McCormick & Company, by 12.7% in the first quarter. Swiss National Bank now owns 902,548 shares of the company’s stock valued at $88,044,000 after buying an additional 101,800 shares during the last quarter. Institutional investors own 74.72% of the company’s stock.

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

Shares of McCormick & Company, Incorporated (MKC) traded down 3.51% during mid-day trading on Friday, reaching $101.83. 1,305,781 shares of the company traded hands. The stock has a market capitalization of $12.70 billion, a PE ratio of 27.51 and a beta of 0.54. McCormick & Company, Incorporated has a 52 week low of $88.64 and a 52 week high of $107.84. The firm has a 50 day moving average of $102.36 and a 200-day moving average of $97.86.

McCormick & Company, (NYSE:MKC) last announced its earnings results on Tuesday, March 28th. The company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. McCormick & Company, had a net margin of 10.68% and a return on equity of 28.03%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. On average, equities research analysts expect that McCormick & Company, Incorporated will post $4.08 EPS for the current fiscal year.

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Several analysts recently commented on MKC shares. Jefferies Group LLC reissued a “hold” rating and set a $95.00 price objective on shares of McCormick & Company, in a research report on Friday, May 19th. Edward Jones raised shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, April 6th. Zacks Investment Research downgraded shares of McCormick & Company, from a “hold” rating to a “sell” rating in a research report on Monday, April 3rd. Goldman Sachs Group, Inc. (The) started coverage on shares of McCormick & Company, in a research report on Friday. They set a “neutral” rating and a $101.00 price objective on the stock. Finally, J P Morgan Chase & Co raised shares of McCormick & Company, from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $91.00 to $96.00 in a research report on Wednesday, April 5th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $102.90.

In other news, Director Maritza Gomez Montiel bought 2,500 shares of McCormick & Company, stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average cost of $99.62 per share, for a total transaction of $249,050.00. Following the completion of the acquisition, the director now owns 2,500 shares of the company’s stock, valued at approximately $249,050. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alan D. Wilson sold 207,531 shares of the business’s stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $99.83, for a total transaction of $20,717,819.73. Following the completion of the transaction, the director now owns 194,552 shares of the company’s stock, valued at $19,422,126.16. The disclosure for this sale can be found here. Insiders own 15.30% of the company’s stock.

About McCormick & Company,

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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