PFG Investments LLC Acquires 179 Shares of McCormick & Company, Incorporated (NYSE:MKC)

PFG Investments LLC increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 6,981 shares of the company’s stock after buying an additional 179 shares during the period. PFG Investments LLC’s holdings in McCormick & Company, Incorporated were worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SVB Wealth LLC lifted its holdings in shares of McCormick & Company, Incorporated by 3.0% during the first quarter. SVB Wealth LLC now owns 3,937 shares of the company’s stock valued at $393,000 after purchasing an additional 114 shares in the last quarter. Wellington Management Group LLP increased its position in McCormick & Company, Incorporated by 0.3% during the first quarter. Wellington Management Group LLP now owns 53,866 shares of the company’s stock valued at $4,482,000 after acquiring an additional 148 shares during the last quarter. Asset Dedication LLC increased its position in McCormick & Company, Incorporated by 7.5% during the second quarter. Asset Dedication LLC now owns 2,150 shares of the company’s stock valued at $187,000 after acquiring an additional 150 shares during the last quarter. Kinneret Advisory LLC increased its position in McCormick & Company, Incorporated by 2.3% during the first quarter. Kinneret Advisory LLC now owns 6,880 shares of the company’s stock valued at $687,000 after acquiring an additional 154 shares during the last quarter. Finally, Ancora Advisors LLC increased its position in McCormick & Company, Incorporated by 29.8% during the first quarter. Ancora Advisors LLC now owns 811 shares of the company’s stock valued at $67,000 after acquiring an additional 186 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Trading Down 1.7 %

MKC opened at $76.02 on Thursday. The firm has a market cap of $20.39 billion, a P/E ratio of 29.02, a P/E/G ratio of 4.20 and a beta of 0.73. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. The company has a current ratio of 0.68, a quick ratio of 0.28 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average of $67.73 and a 200 day moving average of $67.74.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. As a group, research analysts forecast that McCormick & Company, Incorporated will post 2.82 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MKC shares. Citigroup upped their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 16th. Finally, Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.63.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the transaction, the director now owns 39,181 shares in the company, valued at $2,554,601.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.90% of the stock is currently owned by company insiders.

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.