Roffman Miller Associates Inc. PA Sells 8,411 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Roffman Miller Associates Inc. PA lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 360,426 shares of the company’s stock after selling 8,411 shares during the quarter. McCormick & Company, Incorporated makes up about 1.8% of Roffman Miller Associates Inc. PA’s portfolio, making the stock its 23rd biggest position. Roffman Miller Associates Inc. PA owned approximately 0.13% of McCormick & Company, Incorporated worth $24,660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Financial Group LLC bought a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $29,000. Anchor Investment Management LLC bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $36,000. Milestone Investment Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $47,000. Private Trust Co. NA boosted its stake in shares of McCormick & Company, Incorporated by 59.1% during the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after purchasing an additional 290 shares in the last quarter. Finally, Valley National Advisers Inc. grew its stake in McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after purchasing an additional 582 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock traded up $0.32 during trading hours on Friday, hitting $75.88. 435,293 shares of the company’s stock were exchanged, compared to its average volume of 2,043,098. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The firm has a market cap of $20.37 billion, a P/E ratio of 28.84, a P/E/G ratio of 3.89 and a beta of 0.74. 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 firm has a 50 day moving average of $71.42 and a two-hundred day moving average of $67.75.

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

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders 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 yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

Analyst Ratings Changes

MKC has been the topic of a number of analyst reports. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Citigroup raised their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. Stifel Nicolaus upped their target price on 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, Consumer Edge lowered shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $77.88.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated 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 sale, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael D. Mangan sold 5,000 shares of the company’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 $2,554,601.20. The disclosure for this sale can be found here. Insiders sold 33,726 shares of company stock valued at $2,504,728 over the last quarter. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Company 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.