McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Baldwin Wealth Partners LLC MA

Baldwin Wealth Partners LLC MA lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,637 shares of the company’s stock after selling 5,181 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in McCormick & Company, Incorporated were worth $2,717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of McCormick & Company, Incorporated by 7.8% during the 3rd quarter. State Street Corp now owns 15,315,905 shares of the company’s stock worth $1,260,499,000 after buying an additional 1,114,706 shares in the last quarter. Geode Capital Management LLC raised its position in McCormick & Company, Incorporated by 0.9% in the third quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company’s stock worth $482,823,000 after acquiring an additional 54,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in McCormick & Company, Incorporated by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,003,136 shares of the company’s stock valued at $247,158,000 after acquiring an additional 177,567 shares during the period. Point72 Asset Management L.P. boosted its position in shares of McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company’s stock worth $127,115,000 after purchasing an additional 568,276 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,463,052 shares of the company’s stock worth $120,409,000 after purchasing an additional 30,696 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the completion of the transaction, the director now owns 40,436 shares of the company’s stock, valued at $3,174,226. This represents a 11.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 20,000 shares of company stock valued at $1,565,850 in the last quarter. 22.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays decreased their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday. Bank of America raised their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.75.

McCormick & Company, Incorporated Stock Up 2.1 %

MKC opened at $76.47 on Monday. The business’s fifty day simple moving average is $76.66 and its 200 day simple moving average is $78.10. McCormick & Company, Incorporated has a 52 week low of $64.33 and a 52 week high of $85.49. The firm has a market cap of $20.52 billion, a P/E ratio of 26.00, a PEG ratio of 3.23 and a beta of 0.75. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a $0.45 dividend. The ex-dividend date was Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.35%. McCormick & Company, Incorporated’s payout ratio is 61.22%.

McCormick & Company, Incorporated Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.