NewEdge Advisors LLC Sells 846 Shares of McCormick & Company, Incorporated (NYSE:MKC)

NewEdge Advisors LLC trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,769 shares of the company’s stock after selling 846 shares during the period. NewEdge Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $1,812,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Savvy Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $466,000. Somerville Kurt F lifted its position in shares of McCormick & Company, Incorporated by 34.2% during the 4th quarter. Somerville Kurt F now owns 96,074 shares of the company’s stock valued at $7,325,000 after acquiring an additional 24,467 shares during the period. DJE Kapital AG bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $4,228,000. SBI Securities Co. Ltd. bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth $234,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of McCormick & Company, Incorporated by 16.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock valued at $10,547,000 after purchasing an additional 19,491 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MKC shares. JPMorgan Chase & Co. boosted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. Barclays cut their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $83.14.

McCormick & Company, Incorporated Stock Up 1.5 %

Shares of NYSE:MKC opened at $75.78 on Wednesday. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The stock has a market cap of $20.32 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The business’s 50 day moving average is $79.26 and its 200 day moving average is $77.98. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.38%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares in the company, valued at $475,814.31. This represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,842 shares of company stock valued at $6,478,332 over the last ninety days. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Profile

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.