Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Stake in McCormick & Company, Incorporated (NYSE:MKC)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 28,378 shares of the company’s stock after selling 1,789 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in McCormick & Company, Incorporated were worth $1,934,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Legacy Financial Group LLC purchased a new position in shares of McCormick & Company, Incorporated in the third quarter worth $29,000. Anchor Investment Management LLC purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $36,000. Milestone Investment Advisors LLC purchased a new position in shares of McCormick & Company, Incorporated in the third quarter worth $47,000. Valley National Advisers Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after buying an additional 582 shares in the last quarter. Finally, Private Trust Co. NA increased its position in McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after purchasing an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded up $0.36 during trading hours on Tuesday, reaching $75.05. The company had a trading volume of 826,564 shares, compared to its average volume of 2,058,297. The firm has a 50 day simple moving average of $70.80 and a 200-day simple moving average of $67.56. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $20.14 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 3.79 and a beta of 0.74. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.24%. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

Analysts Set New Price Targets

MKC has been the topic of a number of recent analyst reports. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Tuesday, April 2nd. Barclays increased their price objective 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. JPMorgan Chase & Co. dropped their price objective 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. Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Finally, Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $77.88.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Patricia A. Little sold 20,000 shares of the 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 completion of the transaction, the director now owns 24,732 shares in the company, valued at approximately $1,868,997.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the sale, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patricia A. Little sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock valued at $2,376,400 over the last ninety days. 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.