Balentine LLC Sells 609 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Balentine LLC decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 12.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,184 shares of the company’s stock after selling 609 shares during the quarter. Balentine LLC’s holdings in McCormick & Company, Incorporated were worth $286,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of McCormick & Company, Incorporated by 64.6% in the 3rd quarter. Wellington Management Group LLP now owns 108,623 shares of the company’s stock valued at $8,216,000 after buying an additional 42,625 shares in the last quarter. Cullen Investment Group LTD. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $5,728,000. International Assets Investment Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 7,344.4% in the 4th quarter. International Assets Investment Management LLC now owns 116,132 shares of the company’s stock worth $7,946,000 after buying an additional 114,572 shares in the last quarter. abrdn plc lifted its position in shares of McCormick & Company, Incorporated by 19.1% during the 4th quarter. abrdn plc now owns 443,332 shares of the company’s stock worth $30,333,000 after buying an additional 71,133 shares during the period. Finally, Jacobs & Co. CA boosted its stake in McCormick & Company, Incorporated by 12.7% in the 4th quarter. Jacobs & Co. CA now owns 142,949 shares of the company’s stock valued at $9,780,000 after buying an additional 16,098 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.5 %

Shares of McCormick & Company, Incorporated stock opened at $73.64 on Thursday. The company has a market capitalization of $19.77 billion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 3.80 and a beta of 0.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. The business has a 50-day moving average of $74.08 and a two-hundred day moving average of $69.46. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year 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 for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

Wall Street Analyst Weigh In

MKC has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. decreased their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, April 2nd. Barclays upped their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Finally, Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $77.88.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the firm’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 value of $128,328.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the sale, the director now owns 5,594 shares in the company, valued at approximately $430,738. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,458 shares of company stock worth $8,286,114. Insiders own 22.90% of the company’s stock.

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.