Cutter & CO Brokerage Inc. Lowers Position in McCormick & Company, Incorporated (NYSE:MKC)

Cutter & CO Brokerage Inc. lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,655 shares of the company’s stock after selling 151 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in McCormick & Company, Incorporated were worth $3,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MKC. DnB Asset Management AS grew its stake in shares of McCormick & Company, Incorporated by 5.6% during the 3rd quarter. DnB Asset Management AS now owns 42,917 shares of the company’s stock worth $3,246,000 after acquiring an additional 2,264 shares during the period. Avior Wealth Management LLC lifted its holdings in McCormick & Company, Incorporated by 91.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,182 shares of the company’s stock worth $89,000 after purchasing an additional 566 shares in the last quarter. Royal Fund Management LLC lifted its holdings in McCormick & Company, Incorporated by 51.3% during the 3rd quarter. Royal Fund Management LLC now owns 6,668 shares of the company’s stock worth $512,000 after purchasing an additional 2,260 shares in the last quarter. Meridian Wealth Management LLC lifted its holdings in McCormick & Company, Incorporated by 80.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 16,610 shares of the company’s stock worth $1,256,000 after purchasing an additional 7,397 shares in the last quarter. Finally, KFG Wealth Management LLC lifted its holdings in McCormick & Company, Incorporated by 15.0% during the 3rd quarter. KFG Wealth Management LLC now owns 5,071 shares of the company’s stock worth $384,000 after purchasing an additional 661 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. Barclays raised their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Finally, Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.88.

McCormick & Company, Incorporated Stock Up 0.4 %

MKC stock traded up $0.33 during midday trading on Tuesday, hitting $75.02. The stock had a trading volume of 1,701,056 shares, compared to its average volume of 2,070,717. The firm has a market cap of $20.14 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 3.79 and a beta of 0.74. The business has a 50-day moving average of $70.80 and a two-hundred day moving average of $67.56. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. As a group, equities research analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid 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 2.24%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction 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 directly owns 39,181 shares in the company, valued at $2,554,601.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,726 shares of company stock valued at $2,504,728. 22.90% of the stock is currently owned by corporate insiders.

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.