KFG Wealth Management LLC Buys 5,049 Shares of McCormick & Company, Incorporated (NYSE:MKC)

KFG Wealth Management LLC boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 96.6% during the first quarter, Holdings Channel reports. The firm owned 10,278 shares of the company’s stock after purchasing an additional 5,049 shares during the quarter. KFG Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $789,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Anchor Investment Management LLC purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $36,000. VisionPoint Advisory Group LLC purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $44,000. Valley National Advisers Inc. increased its holdings in McCormick & Company, Incorporated by 283.9% during the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after buying an additional 582 shares during the last quarter. Private Trust Co. NA increased its holdings in McCormick & Company, Incorporated by 59.1% during the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after buying an additional 290 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in McCormick & Company, Incorporated by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after buying an additional 461 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 2,732 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total transaction of $207,386.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the transaction, the director now owns 199,258 shares in the company, valued at $14,695,277.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katherine Jenkins sold 2,732 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total transaction of $207,386.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,458 shares of company stock valued at $6,235,714. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC traded down $0.52 during trading on Wednesday, hitting $69.72. 1,059,623 shares of the company traded hands, compared to its average volume of 1,999,786. The company has a market cap of $18.71 billion, a PE ratio of 25.51, a P/E/G ratio of 3.71 and a beta of 0.75. The stock’s 50-day simple moving average is $72.00 and its two-hundred day simple moving average is $70.20. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $90.45. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. McCormick & Company, Incorporated’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company posted $0.60 earnings per share. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Monday, July 8th. This represents a $1.68 annualized dividend and a yield of 2.41%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Analyst Ratings Changes

A number of brokerages have commented on MKC. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their target price for the company from $68.00 to $69.00 in a report on Wednesday, June 12th. TD Cowen reduced their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, April 2nd. Stifel Nicolaus increased 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. Finally, Barclays increased their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $76.25.

McCormick & Company, Incorporated Company 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.