Trueblood Wealth Management LLC Acquires New Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Trueblood Wealth Management LLC purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,295 shares of the company’s stock, valued at approximately $294,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MKC. Union Savings Bank bought a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at about $27,000. Legacy Financial Group LLC bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $29,000. Anchor Investment Management LLC bought a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $36,000. Point72 Hong Kong Ltd acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at $44,000. Finally, ICA Group Wealth Management LLC bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $46,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Up 1.0 %

NYSE MKC traded up $0.78 on Thursday, reaching $76.81. The company had a trading volume of 2,583,550 shares, compared to its average volume of 2,168,727. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 4.20 and a beta of 0.73. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The business has a 50 day moving average of $67.73 and a two-hundred day moving average of $67.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.28.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data 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 analyst estimates of $1.55 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts forecast that McCormick & Company, Incorporated will post 2.82 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm 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 2.19%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. JPMorgan Chase & Co. dropped their price target on shares of 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. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday. Barclays raised their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Citigroup upped their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $76.25.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the transaction, the director now directly owns 39,181 shares of the company’s stock, valued at approximately $2,554,601.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.90% of the company’s stock.

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.