Kesler Norman & Wride LLC Has $844,000 Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Kesler Norman & Wride LLC trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,073 shares of the company’s stock after selling 153 shares during the quarter. Kesler Norman & Wride LLC’s holdings in McCormick & Company, Incorporated were worth $844,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Curio Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $30,000. Twin Tree Management LP bought a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Albion Financial Group UT bought a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Lee Danner & Bass Inc. acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $37,000. Finally, Rosenberg Matthew Hamilton bought a new position in McCormick & Company, Incorporated during the 4th quarter worth about $38,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on MKC. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Barclays cut their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $83.75.

McCormick & Company, Incorporated Trading Down 0.1 %

NYSE MKC opened at $82.22 on Wednesday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average of $79.59 and a 200-day moving average of $78.79. The company has a market cap of $22.05 billion, a PE ratio of 28.06, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company posted $0.63 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.86%.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.