McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Bigelow Investment Advisors LLC

Bigelow Investment Advisors LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.9% during the 4th quarter, HoldingsChannel reports. The firm owned 6,922 shares of the company’s stock after selling 207 shares during the period. Bigelow Investment Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Beaumont Financial Advisors LLC lifted its stake in shares of McCormick & Company, Incorporated by 4.5% in the fourth quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock worth $252,000 after buying an additional 159 shares in the last quarter. Federated Hermes Inc. lifted its stake in McCormick & Company, Incorporated by 147.4% in the 4th quarter. Federated Hermes Inc. now owns 2,709 shares of the company’s stock worth $185,000 after purchasing an additional 1,614 shares in the last quarter. Tufton Capital Management boosted its holdings in shares of McCormick & Company, Incorporated by 207.3% during the 4th quarter. Tufton Capital Management now owns 34,993 shares of the company’s stock worth $2,394,000 after purchasing an additional 23,606 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of McCormick & Company, Incorporated by 24.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 25,913 shares of the company’s stock valued at $1,773,000 after purchasing an additional 5,101 shares in the last quarter. Finally, TRUE Private Wealth Advisors increased its holdings in shares of McCormick & Company, Incorporated by 55.1% in the fourth quarter. TRUE Private Wealth Advisors now owns 4,407 shares of the company’s stock valued at $302,000 after purchasing an additional 1,566 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MKC shares. Citigroup boosted their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, April 2nd. Barclays raised their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Stifel Nicolaus boosted their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. cut their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.88.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the transaction, 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 accessible through the SEC website. In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the sale, the director now directly owns 39,181 shares in the company, valued at approximately $2,554,601.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the transaction, the director now owns 5,594 shares of the company’s stock, valued at approximately $430,738. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,000 shares of company stock valued at $2,376,400. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.7 %

Shares of MKC stock traded up $1.22 during trading hours on Friday, reaching $73.92. 1,714,808 shares of the stock were exchanged, compared to its average volume of 2,080,066. The business’s fifty day moving average is $70.45 and its two-hundred day moving average is $67.51. The firm has a market capitalization of $19.84 billion, a P/E ratio of 27.75, a P/E/G ratio of 3.71 and a beta of 0.74. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month 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.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. As a group, research analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

About McCormick & Company, Incorporated

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.