Bigelow Investment Advisors LLC Reduces Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Bigelow Investment Advisors LLC lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,922 shares of the company’s stock after selling 207 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Legacy Financial Group LLC purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $29,000. Anchor Investment Management LLC bought a new position in McCormick & Company, Incorporated in the fourth quarter worth $36,000. Point72 Hong Kong Ltd bought a new position in McCormick & Company, Incorporated in the first quarter worth $44,000. ICA Group Wealth Management LLC purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at $46,000. Finally, Milestone Investment Advisors LLC bought a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $47,000. 79.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the sale, 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 is available at this link. In related news, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the completion of the transaction, the director now directly owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the sale, the director now directly owns 5,594 shares in the company, valued at approximately $430,738. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,000 shares of company stock worth $2,376,400. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded up $1.22 during trading hours on Friday, hitting $73.92. The stock had a trading volume of 1,714,808 shares, compared to its average volume of 2,080,066. The stock has a fifty day moving average price of $70.45 and a 200 day moving average price of $67.51. The firm has a market capitalization of $19.84 billion, a PE ratio of 27.75, a PEG ratio of 3.71 and a beta of 0.74. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. 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 issued its quarterly earnings data 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. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.27%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Analyst Ratings Changes

Several brokerages recently issued reports on MKC. Citigroup increased their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Tuesday, April 2nd. Barclays boosted their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $77.88.

McCormick & Company, Incorporated 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.