Cetera Investment Advisers Has $2.76 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Cetera Investment Advisers raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,248 shares of the company’s stock after purchasing an additional 2,142 shares during the period. Cetera Investment Advisers’ holdings in McCormick & Company, Incorporated were worth $2,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Curio Wealth LLC bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $30,000. Albion Financial Group UT bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $33,000. Twin Tree Management LP bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $33,000. Lee Danner & Bass Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $37,000. Finally, Parvin Asset Management LLC bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $38,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MKC shares. JPMorgan Chase & Co. upped their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, Barclays lowered their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $83.14.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $75.50 on Friday. The business has a 50 day simple moving average of $77.24 and a 200 day simple moving average of $77.48. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The stock has a market cap of $20.25 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company posted $0.63 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.86%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares of the company’s stock, valued at $184,497.72. This represents a 54.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Katherine Jenkins sold 7,642 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. Insiders sold a total of 60,392 shares of company stock valued at $4,898,101 in the last quarter. 23.80% of the stock is currently owned by insiders.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.