McCormick & Company, Incorporated (NYSE:MKC) Stock Position Trimmed by Marshall Financial Group LLC

Marshall Financial Group LLC trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,537 shares of the company’s stock after selling 348 shares during the period. Marshall Financial Group LLC’s holdings in McCormick & Company, Incorporated were worth $1,808,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $36,000. VisionPoint Advisory Group LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $44,000. Valley National Advisers Inc. grew its stake in shares of McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares in the last quarter. Private Trust Co. NA increased its holdings 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 during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of McCormick & Company, Incorporated by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after purchasing an additional 461 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.5 %

Shares of NYSE:MKC traded down $0.37 during midday trading on Thursday, reaching $69.87. The company had a trading volume of 1,059,623 shares, compared to its average volume of 2,190,798. The company has a fifty day simple moving average of $71.88 and a two-hundred day simple moving average of $70.20. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The firm has a market cap of $18.75 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 3.63 and a beta of 0.75. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $90.45.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Monday, July 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.40%. The ex-dividend date is Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the completion of the sale, the director now owns 199,258 shares of the company’s stock, valued at $14,695,277.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Katherine Jenkins sold 2,732 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total transaction of $207,386.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,695,277.50. The disclosure for this sale can be found here. Insiders sold 84,458 shares of company stock worth $6,235,714 over the last quarter. Corporate insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MKC. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. TD Cowen dropped their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Tuesday, April 2nd. Barclays lifted their target price 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, Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price target for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $76.25.

About McCormick & Company, Incorporated

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.