McCormick & Company, Incorporated $MKC Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 10.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 90,306 shares of the company’s stock after selling 10,852 shares during the period. Parallel Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $6,151,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in McCormick & Company, Incorporated by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock valued at $2,854,000 after acquiring an additional 925 shares during the last quarter. Empowered Funds LLC raised its holdings in McCormick & Company, Incorporated by 19.0% in the 1st quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock valued at $486,000 after acquiring an additional 941 shares during the last quarter. Woodline Partners LP raised its holdings in McCormick & Company, Incorporated by 40.9% in the 1st quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock valued at $1,756,000 after acquiring an additional 6,189 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at $6,520,000. Finally, Daiwa Securities Group Inc. raised its holdings in McCormick & Company, Incorporated by 6.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock valued at $2,873,000 after acquiring an additional 2,176 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Up 1.5%

Shares of NYSE MKC opened at $47.31 on Friday. McCormick & Company, Incorporated has a 52-week low of $44.82 and a 52-week high of $78.16. The firm has a fifty day moving average of $49.48 and a 200-day moving average of $59.88. The stock has a market capitalization of $12.71 billion, a PE ratio of 7.75, a P/E/G ratio of 2.29 and a beta of 0.65. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the company earned $0.60 EPS. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio is 31.48%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Gavin Hattersley purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average cost of $52.98 per share, with a total value of $105,960.00. Following the transaction, the director owned 2,906 shares in the company, valued at approximately $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 10.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MKC shares. TD Cowen cut their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Monday, April 27th. BNP Paribas Exane cut their price target on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Stifel Nicolaus lowered their price objective on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average target price of $63.36.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.