Raab & Moskowitz Asset Management LLC Sells 262 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Raab & Moskowitz Asset Management LLC cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,288 shares of the company’s stock after selling 262 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $293,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MKC. KFG Wealth Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 3.1% during the 4th quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock worth $358,000 after acquiring an additional 158 shares during the last quarter. Beaumont Financial Advisors LLC lifted its holdings in shares of McCormick & Company, Incorporated by 4.5% during the 4th quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock worth $252,000 after acquiring an additional 159 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of McCormick & Company, Incorporated by 2.6% during the 4th quarter. PFG Investments LLC now owns 6,981 shares of the company’s stock worth $478,000 after acquiring an additional 179 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its holdings in shares of McCormick & Company, Incorporated by 3.2% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,205 shares of the company’s stock worth $425,000 after acquiring an additional 195 shares during the last quarter. Finally, Atlas Private Wealth Management lifted its holdings in shares of McCormick & Company, Incorporated by 1.3% during the 3rd quarter. Atlas Private Wealth Management now owns 15,661 shares of the company’s stock worth $1,185,000 after acquiring an additional 201 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on MKC. JPMorgan Chase & Co. decreased their target price on shares of 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. Citigroup lifted their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Barclays lifted their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Finally, Stifel Nicolaus lifted 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 report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.88.

Insider Buying and Selling

In related news, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the sale, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the transaction, the director now owns 39,181 shares in the company, valued at $2,554,601.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the transaction, the director now owns 24,732 shares in the company, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. Insiders have sold 33,726 shares of company stock valued at $2,504,728 over the last quarter. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.2 %

Shares of MKC traded up $0.17 during trading hours on Friday, reaching $75.73. 1,248,036 shares of the company traded hands, compared to its average volume of 1,639,012. The company’s fifty day moving average price is $71.61 and its two-hundred day moving average price is $67.83. The company has a market capitalization of $20.33 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 3.88 and a beta of 0.74. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. 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 posted 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. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. McCormick & Company, Incorporated’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.22%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

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.