McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Solidarity Wealth LLC

Solidarity Wealth LLC trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKCFree Report) by 6.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,208 shares of the company’s stock after selling 356 shares during the period. Solidarity Wealth LLC’s holdings in McCormick & Company, Incorporated were worth $359,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Anchor Investment Management LLC purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $36,000. VisionPoint Advisory Group LLC acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $44,000. Milestone Investment Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $47,000. Valley National Advisers Inc. lifted its stake in McCormick & Company, Incorporated by 283.9% during the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after acquiring an additional 582 shares in the last quarter. Finally, Private Trust Co. NA boosted its holdings in McCormick & Company, Incorporated by 59.1% during the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after acquiring an additional 290 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MKC. Barclays lifted their target price on 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. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Tuesday, April 2nd. Stifel Nicolaus raised their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Finally, Citigroup boosted their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average target price of $77.88.

Check Out Our Latest Report on MKC

Insider Buying and Selling

In other news, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The disclosure for this sale can be found here. Insiders sold a total of 111,458 shares of company stock worth $8,286,114 in the last 90 days. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.4 %

Shares of MKC stock traded up $0.29 on Thursday, reaching $70.47. 468,498 shares of the stock were exchanged, compared to its average volume of 1,910,423. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The company has a market capitalization of $18.91 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 3.66 and a beta of 0.73. 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 business’s 50 day moving average price is $74.40 and its 200 day moving average price is $69.70.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last posted its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the business earned $0.59 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.38%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 64.12%.

McCormick & Company, Incorporated Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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