McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.0% during the 4th quarter, Holdings Channel reports. The firm owned 1,561 shares of the company’s stock after selling 174 shares during the quarter. First Horizon Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $107,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of MKC. Anchor Investment Management LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter valued at $36,000. Milestone Investment Advisors LLC purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at about $47,000. Valley National Advisers Inc. lifted its holdings 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 buying an additional 582 shares during the period. Private Trust Co. NA lifted its holdings 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 valued at $53,000 after buying an additional 290 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake 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 worth $75,000 after buying an additional 461 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction 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 SEC, which is available at this link. In other news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the transaction, the director now directly owns 5,594 shares of the company’s stock, valued at $430,738. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,726 shares of company stock worth $2,504,728. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $75.76 on Tuesday. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The firm has a market capitalization of $20.33 billion, a P/E ratio of 28.92, a price-to-earnings-growth ratio of 3.87 and a beta of 0.73. The stock’s fifty day moving average is $72.56 and its two-hundred day moving average is $68.53. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68.

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 the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. On average, research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is presently 64.12%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MKC. JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Citigroup upped their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Tuesday, April 2nd. Finally, Barclays upped their price target 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $77.88.

McCormick & Company, Incorporated Company 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.