Ashton Thomas Private Wealth LLC Has $890,000 Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Ashton Thomas Private Wealth LLC lessened its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,581 shares of the company’s stock after selling 168 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in McCormick & Company, Incorporated were worth $890,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $36,000. VisionPoint Advisory Group LLC bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $44,000. Valley National Advisers Inc. lifted its stake in shares of McCormick & Company, Incorporated by 283.9% in the 4th 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 period. Private Trust Co. NA boosted its position in shares of McCormick & Company, Incorporated by 59.1% in the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after purchasing an additional 290 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew 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 worth $75,000 after purchasing an additional 461 shares during the period. Institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In related news, insider Katherine Jenkins sold 2,732 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total transaction of $207,386.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total value of $5,900,000.00. Following the sale, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,695,277.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Katherine Jenkins sold 2,732 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total value of $207,386.12. The disclosure for this sale can be found here. Insiders have sold 84,458 shares of company stock valued at $6,235,714 in the last three months. 22.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MKC has been the topic of several analyst reports. TD Cowen cut their target price 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. Stifel Nicolaus boosted their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, April 2nd. Finally, Barclays upped their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $76.25.

McCormick & Company, Incorporated Stock Up 0.1 %

MKC stock traded up $0.07 during trading hours on Friday, reaching $69.94. 202,686 shares of the stock were exchanged, compared to its average volume of 1,985,746. The company has a market cap of $18.77 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 3.61 and a beta of 0.75. The firm’s 50-day moving average is $71.76 and its 200-day moving average is $70.20. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $90.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, June 27th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. On average, equities research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

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.