Vaughan David Investments LLC IL Sells 167 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Vaughan David Investments LLC IL reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,094 shares of the company’s stock after selling 167 shares during the period. Vaughan David Investments LLC IL’s holdings in McCormick & Company, Incorporated were worth $3,080,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. VisionPoint Advisory Group LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $44,000. Valley National Advisers Inc. boosted its holdings in McCormick & Company, Incorporated by 283.9% during the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after acquiring an additional 582 shares during the last quarter. Private Trust Co. NA grew its stake in shares of McCormick & Company, Incorporated by 59.1% in the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after acquiring an additional 290 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of McCormick & Company, Incorporated by 16.5% in the 1st quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after acquiring an additional 134 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of McCormick & Company, Incorporated by 72.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after purchasing an additional 461 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.4 %

Shares of NYSE MKC traded up $0.29 during trading hours on Wednesday, hitting $74.23. The company’s stock had a trading volume of 2,181,328 shares, compared to its average volume of 1,998,769. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $90.45. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 3.78 and a beta of 0.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The business has a 50-day simple moving average of $70.91 and a 200-day simple moving average of $70.64.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. On average, analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a $0.42 dividend. The ex-dividend date was Monday, July 8th. This represents a $1.68 annualized dividend and a yield of 2.26%. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Insiders Place Their Bets

In other news, insider Katherine Jenkins sold 2,732 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katherine Jenkins sold 2,732 shares of the stock in a transaction dated 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 90 days, insiders sold 107,732 shares of company stock worth $7,982,386. 22.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MKC shares. TD Cowen reduced their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. 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. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Finally, Barclays raised their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.