Annapolis Financial Services LLC Lowers Position in McCormick & Company, Incorporated (NYSE:MKC)

Annapolis Financial Services LLC cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 81.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 400 shares of the company’s stock after selling 1,720 shares during the quarter. Annapolis Financial Services LLC’s holdings in McCormick & Company, Incorporated were worth $27,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legacy Financial Group LLC purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $29,000. Anchor Investment Management LLC purchased a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $36,000. Point72 Hong Kong Ltd purchased a new position in McCormick & Company, Incorporated during the 1st quarter valued at about $44,000. ICA Group Wealth Management LLC purchased a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $46,000. Finally, Milestone Investment Advisors LLC purchased a new position in McCormick & Company, Incorporated during the 3rd quarter valued at about $47,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Up 1.7 %

MKC traded up $1.22 on Friday, reaching $73.92. The company’s stock had a trading volume of 1,726,874 shares, compared to its average volume of 2,191,178. The stock has a 50 day moving average of $70.63 and a two-hundred day moving average of $67.50. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 3.79 and a beta of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 64.12%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the sale, the director now owns 39,181 shares in the company, valued at $2,554,601.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the business’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 value of $1,511,400.00. Following the completion of the sale, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael D. Mangan sold 5,000 shares of the business’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 completion of the sale, the director now 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 sold 32,000 shares of company stock valued at $2,376,400 over the last three months. 22.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Barclays lifted their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Citigroup lifted their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Wednesday, March 27th. Finally, Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, April 2nd. Two investment 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $77.88.

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.