Ferguson Wellman Capital Management Inc. Has $1.14 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Ferguson Wellman Capital Management Inc. lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,047 shares of the company’s stock after selling 738 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in McCormick & Company, Incorporated were worth $1,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. VisionPoint Advisory Group LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $44,000. Lindbrook Capital LLC boosted its holdings in McCormick & Company, Incorporated by 16.5% during the 1st quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after acquiring an additional 134 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth $77,000. Parkside Financial Bank & Trust raised its holdings in shares of McCormick & Company, Incorporated by 72.9% in 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 during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $101,000. Institutional investors own 79.74% of the company’s stock.

Insider Activity

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MKC. TD Cowen reduced their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Citigroup raised 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 report on Wednesday, June 12th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.25.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $0.93 during mid-day trading on Wednesday, reaching $78.25. The company had a trading volume of 825,343 shares, compared to its average volume of 1,973,995. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $86.55. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $72.22 and its 200-day moving average price is $71.72. The firm has a market cap of $21.02 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 4.02 and a beta of 0.75.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is presently 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.