Robertson Stephens Wealth Management LLC Trims Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Robertson Stephens Wealth Management LLC trimmed its stake in McCormick & Company, Incorporated (NYSE:MKC) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,794 shares of the company’s stock after selling 276 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,901,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in McCormick & Company, Incorporated in the third quarter worth about $28,000. Albion Financial Group UT purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Rosenberg Matthew Hamilton bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $38,000. Kennebec Savings Bank purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $40,000. Finally, Friedenthal Financial bought a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $49,000. Institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MKC shares. Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

Insider Buying and Selling

In other news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the sale, the director now owns 28,217 shares of the company’s stock, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Up 0.7 %

Shares of McCormick & Company, Incorporated stock opened at $77.32 on Friday. The company has a 50-day simple moving average of $76.70 and a two-hundred day simple moving average of $78.29. The stock has a market capitalization of $20.73 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. McCormick & Company, Incorporated has a 52-week low of $64.33 and a 52-week high of $85.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date was Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.33%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.43%.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.