McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by InterOcean Capital Group LLC

InterOcean Capital Group LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKCFree Report) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,780 shares of the company’s stock after selling 2,221 shares during the quarter. InterOcean Capital Group LLC’s holdings in McCormick & Company, Incorporated were worth $1,353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MKC. KFG Wealth Management LLC lifted its position in McCormick & Company, Incorporated by 3.1% in the fourth quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock worth $358,000 after purchasing an additional 158 shares during the period. Beaumont Financial Advisors LLC lifted its holdings in shares of McCormick & Company, Incorporated by 4.5% in the fourth quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock valued at $252,000 after buying an additional 159 shares during the period. PFG Investments LLC grew its holdings in McCormick & Company, Incorporated by 2.6% during the fourth 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 period. Kornitzer Capital Management Inc. KS raised its position in McCormick & Company, Incorporated by 3.2% in the fourth 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 in the last quarter. Finally, Palisade Asset Management LLC lifted its holdings in McCormick & Company, Incorporated by 0.5% in the 4th quarter. Palisade Asset Management LLC now owns 42,172 shares of the company’s stock valued at $2,885,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity

In other McCormick & Company, Incorporated news, 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 sale, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the transaction, the director now directly owns 199,258 shares in the company, valued at $14,695,277.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,458 shares of company stock valued at $8,286,114. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of NYSE:MKC traded down $0.40 during midday trading on Thursday, hitting $73.24. 160,361 shares of the stock were exchanged, compared to its average volume of 1,931,026. The business’s fifty day simple moving average is $74.08 and its two-hundred day simple moving average is $69.46. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39. The company has a market capitalization of $19.66 billion, a PE ratio of 28.11, a P/E/G ratio of 3.80 and a beta of 0.73.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) 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 analyst estimates of $1.55 billion. During the same period in the previous year, the company earned $0.59 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.29%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MKC. Stifel Nicolaus boosted their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Barclays boosted their target price on 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. JPMorgan Chase & Co. decreased their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Citigroup raised their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. Finally, Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, April 2nd. Two equities research 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. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $77.88.

Read Our Latest Research Report on MKC

McCormick & Company, Incorporated Company 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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