Dakota Wealth Management Reduces Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Dakota Wealth Management lessened its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 55,911 shares of the company’s stock after selling 522 shares during the period. Dakota Wealth Management’s holdings in McCormick & Company, Incorporated were worth $3,825,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC increased its position in McCormick & Company, Incorporated by 92,736.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,770,708 shares of the company’s stock valued at $478,334,000 after purchasing an additional 5,764,492 shares during the period. Norges Bank bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $148,700,000. Alecta Tjanstepension Omsesidigt purchased a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $92,340,000. Holocene Advisors LP bought a new position in McCormick & Company, Incorporated in the second quarter worth about $77,091,000. Finally, Impax Asset Management Group plc lifted its holdings in McCormick & Company, Incorporated by 157.2% in the fourth quarter. Impax Asset Management Group plc now owns 1,063,273 shares of the company’s stock worth $72,749,000 after buying an additional 649,908 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Maritza Gomez Montiel sold 7,000 shares of the business’s 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 completion of the sale, the director now directly owns 5,594 shares in the company, valued at $430,738. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction on 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 directly owns 5,594 shares in the company, valued at $430,738. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the sale, the director now directly owns 39,181 shares of the company’s stock, valued at approximately $2,554,601.20. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock worth $2,376,400 in the last quarter. Company insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, April 2nd. 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 upped their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Barclays raised their price target on shares of 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. Finally, JPMorgan Chase & Co. lowered their price objective on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $77.88.

McCormick & Company, Incorporated Trading Up 0.2 %

NYSE:MKC opened at $71.91 on Tuesday. The company has a market cap of $19.30 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 3.68 and a beta of 0.74. 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 has a 50 day simple moving average of $70.08 and a two-hundred day simple moving average of $67.47. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. McCormick & Company, Incorporated’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Research analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

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.