TRUE Private Wealth Advisors Acquires 1,566 Shares of McCormick & Company, Incorporated (NYSE:MKC)

TRUE Private Wealth Advisors grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 55.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,407 shares of the company’s stock after acquiring an additional 1,566 shares during the period. TRUE Private Wealth Advisors’ holdings in McCormick & Company, Incorporated were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of MKC. American Century Companies Inc. grew its position in shares of McCormick & Company, Incorporated by 15.9% during the 1st quarter. American Century Companies Inc. now owns 5,072 shares of the company’s stock valued at $506,000 after acquiring an additional 696 shares during the period. Vontobel Holding Ltd. grew its position in shares of McCormick & Company, Incorporated by 28.1% during the 1st quarter. Vontobel Holding Ltd. now owns 6,448 shares of the company’s stock valued at $627,000 after acquiring an additional 1,415 shares during the period. Sei Investments Co. grew its position in shares of McCormick & Company, Incorporated by 1.0% during the 1st quarter. Sei Investments Co. now owns 108,139 shares of the company’s stock valued at $10,803,000 after acquiring an additional 1,048 shares during the period. Prudential PLC bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at $543,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at $313,000. Institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

MKC has been the topic of a number of analyst reports. Barclays lifted their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Tuesday, April 2nd. Citigroup lifted their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Wednesday, March 27th. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $77.88.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the sale, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now directly owns 5,594 shares in the company, valued at approximately $430,738. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the transaction, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock worth $2,376,400 in the last three months. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.7 %

Shares of MKC stock opened at $72.27 on Thursday. The stock has a market cap of $19.40 billion, a P/E ratio of 27.58, a PEG ratio of 3.68 and a beta of 0.74. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $70.31 and its two-hundred day simple moving average is $67.48.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.55 billion. During the same period in the previous year, the firm posted $0.59 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a $0.42 dividend. The ex-dividend date is Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.32%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

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.