Jacobs & Co. CA Increases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Jacobs & Co. CA raised its position in McCormick & Company, Incorporated (NYSE:MKCFree Report) by 5.3% during the first quarter, HoldingsChannel reports. The firm owned 150,459 shares of the company’s stock after purchasing an additional 7,510 shares during the period. Jacobs & Co. CA’s holdings in McCormick & Company, Incorporated were worth $11,556,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Anchor Investment Management LLC purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at $36,000. VisionPoint Advisory Group LLC purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at $44,000. Valley National Advisers Inc. lifted its holdings in 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 in the last quarter. Private Trust Co. NA lifted its holdings in 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 purchasing an additional 290 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in McCormick & Company, Incorporated by 72.9% in the 4th 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. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling

In related news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the transaction, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,458 shares of company stock valued at $8,286,114. 22.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays raised their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. TD Cowen cut their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday. 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. Finally, Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued 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.

Read Our Latest Research Report on MKC

McCormick & Company, Incorporated Trading Up 0.1 %

Shares of NYSE:MKC traded up $0.05 during midday trading on Tuesday, reaching $69.25. 306,199 shares of the company’s stock were exchanged, compared to its average volume of 1,932,490. The firm’s 50 day simple moving average is $72.45 and its two-hundred day simple moving average is $70.13. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 3.59 and a beta of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $93.77.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS. As a group, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.84 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is 64.12%.

McCormick & Company, Incorporated Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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