Benjamin Edwards Inc. Reduces Position in McCormick & Company, Incorporated (NYSE:MKC)

Benjamin Edwards Inc. decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,397 shares of the company’s stock after selling 3,056 shares during the period. Benjamin Edwards Inc.’s holdings in McCormick & Company, Incorporated were worth $1,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tower View Wealth Management LLC acquired a new stake in McCormick & Company, Incorporated during the 4th quarter valued at approximately $656,000. New York Life Investment Management LLC lifted its position in McCormick & Company, Incorporated by 0.8% during the fourth quarter. New York Life Investment Management LLC now owns 39,362 shares of the company’s stock valued at $2,693,000 after purchasing an additional 306 shares during the period. ICW Investment Advisors LLC boosted its holdings in McCormick & Company, Incorporated by 2.9% in the fourth quarter. ICW Investment Advisors LLC now owns 21,946 shares of the company’s stock valued at $1,502,000 after purchasing an additional 612 shares during the last quarter. Victory Capital Management Inc. grew its position in McCormick & Company, Incorporated by 8.8% during the 4th quarter. Victory Capital Management Inc. now owns 175,358 shares of the company’s stock worth $11,998,000 after purchasing an additional 14,155 shares during the period. Finally, Mission Wealth Management LP grew its position in McCormick & Company, Incorporated by 3.9% during the 4th quarter. Mission Wealth Management LP now owns 14,572 shares of the company’s stock worth $997,000 after purchasing an additional 541 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred 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 sale, the director now owns 5,594 shares of the company’s stock, valued at approximately $430,738. The transaction was disclosed in a 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 shares were 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. Over 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 Price Performance

MKC stock traded up $0.31 during midday trading on Friday, reaching $75.45. The stock had a trading volume of 1,583,980 shares, compared to its average volume of 2,041,533. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $72.26 and its 200 day simple moving average is $68.22. The company has a market cap of $20.25 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 3.82 and a beta of 0.73.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the firm posted $0.59 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Wall Street Analysts Forecast Growth

MKC has been the subject of several recent research reports. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Citigroup increased their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. cut their price objective 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. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, April 2nd. Finally, Barclays raised their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $77.88.

McCormick & Company, Incorporated 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.