Robertson Stephens Wealth Management LLC Lowers Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Robertson Stephens Wealth Management LLC lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,119 shares of the company’s stock after selling 478 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,729,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its stake in shares of McCormick & Company, Incorporated by 151.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 69,805 shares of the company’s stock valued at $5,280,000 after acquiring an additional 42,078 shares during the period. Xponance Inc. grew its position in shares of McCormick & Company, Incorporated by 3.4% during the 3rd quarter. Xponance Inc. now owns 32,248 shares of the company’s stock worth $2,439,000 after buying an additional 1,066 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in McCormick & Company, Incorporated by 3.8% during the third quarter. Stratos Wealth Partners LTD. now owns 70,941 shares of the company’s stock valued at $5,366,000 after purchasing an additional 2,598 shares in the last quarter. Stratos Wealth Advisors LLC boosted its position in McCormick & Company, Incorporated by 10.2% during the third quarter. Stratos Wealth Advisors LLC now owns 2,813 shares of the company’s stock valued at $213,000 after purchasing an additional 260 shares in the last quarter. Finally, Independent Advisor Alliance boosted its position in McCormick & Company, Incorporated by 4.3% during the third quarter. Independent Advisor Alliance now owns 38,409 shares of the company’s stock valued at $2,905,000 after purchasing an additional 1,592 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MKC shares. Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Citigroup lifted their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. lowered their price objective on 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. Finally, Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Tuesday, April 2nd. Two equities research 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 a consensus target price of $77.88.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $0.56 during midday trading on Thursday, hitting $75.11. 225,163 shares of the company’s stock were exchanged, compared to its average volume of 2,031,529. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The firm has a market cap of $20.16 billion, a P/E ratio of 28.63, a PEG ratio of 3.90 and a beta of 0.73. The stock’s 50 day moving average price is $72.11 and its 200-day moving average price is $68.18. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30.

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, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a $0.42 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.24%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the transaction, the director now owns 5,594 shares in the company, valued at $430,738. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the transaction, the director now owns 39,181 shares in the company, valued at approximately $2,554,601.20. The disclosure for this sale can be found here. Insiders have sold a total of 33,726 shares of company stock worth $2,504,728 in the last 90 days. Corporate insiders own 22.90% of the company’s stock.

About McCormick & Company, Incorporated

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.