McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,213 shares of the company’s stock after selling 9,029 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $12,920,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Legacy Financial Group LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $29,000. Anchor Investment Management LLC purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth $36,000. VisionPoint Advisory Group LLC acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $44,000. Milestone Investment Advisors LLC purchased a new position in McCormick & Company, Incorporated in the 3rd quarter valued at about $47,000. Finally, Valley National Advisers Inc. grew its stake in shares of McCormick & Company, Incorporated by 283.9% during the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after acquiring an additional 582 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Stifel Nicolaus increased their target price 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. JPMorgan Chase & Co. dropped 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 research note on Friday, January 26th. Barclays increased their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Finally, Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average price target of $77.88.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $0.31 on Friday, reaching $75.45. 1,584,356 shares of the company’s stock were exchanged, compared to its average volume of 1,591,954. The business’s 50-day moving average is $72.40 and its two-hundred day moving average is $68.32. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The firm has a market capitalization of $20.25 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.85 and a beta of 0.73.

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. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Insider Buying and Selling

In related news, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following 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 33,726 shares of company stock valued at $2,504,728. Insiders own 22.90% of the company’s stock.

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.