Portside Wealth Group LLC Sells 149 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Portside Wealth Group LLC decreased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 7,116 shares of the company’s stock after selling 149 shares during the quarter. Portside Wealth Group LLC’s holdings in McCormick & Company, Incorporated were worth $505,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. VisionPoint Advisory Group LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $44,000. Lindbrook Capital LLC boosted 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 valued at $73,000 after purchasing an additional 134 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of McCormick & Company, Incorporated by 72.9% in the 4th 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 in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $77,000. Finally, Headlands Technologies LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $101,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.4 %

MKC traded up $0.34 during trading on Friday, hitting $77.18. 1,566,137 shares of the stock traded hands, compared to its average volume of 1,971,682. The firm has a market capitalization of $20.73 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 4.02 and a beta of 0.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The firm has a 50-day moving average of $72.73 and a 200 day moving average of $71.86. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $86.11.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly 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 business 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%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. 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 announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $1.68 annualized dividend and a dividend yield of 2.18%. McCormick & Company, Incorporated’s dividend payout ratio is 61.31%.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research reports. TD Cowen cut 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. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price objective for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.