Forte Capital LLC ADV Sells 1,110 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Forte Capital LLC ADV decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 20.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,418 shares of the company’s stock after selling 1,110 shares during the period. Forte Capital LLC ADV’s holdings in McCormick & Company, Incorporated were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MKC. Axxcess Wealth Management LLC lifted its position in McCormick & Company, Incorporated by 15.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 16,449 shares of the company’s stock worth $1,125,000 after buying an additional 2,202 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of McCormick & Company, Incorporated by 22.0% in the 4th quarter. Merit Financial Group LLC now owns 3,860 shares of the company’s stock worth $264,000 after acquiring an additional 697 shares during the last quarter. Malaga Cove Capital LLC boosted its stake in shares of McCormick & Company, Incorporated by 68.8% during the 4th quarter. Malaga Cove Capital LLC now owns 7,847 shares of the company’s stock worth $537,000 after purchasing an additional 3,199 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in McCormick & Company, Incorporated by 715.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 295,294 shares of the company’s stock valued at $20,204,000 after purchasing an additional 259,084 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. raised its position in McCormick & Company, Incorporated by 24.4% in the 4th quarter. Beacon Harbor Wealth Advisors Inc. now owns 25,900 shares of the company’s stock worth $1,772,000 after purchasing an additional 5,086 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.4 %

NYSE:MKC traded up $0.31 during mid-day trading on Friday, reaching $75.45. The company’s stock had a trading volume of 1,584,356 shares, compared to its average volume of 1,591,954. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The stock has a fifty day moving average of $72.26 and a 200-day moving average of $68.22. The firm has a market capitalization of $20.25 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 3.85 and a beta of 0.73.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 EPS. Equities research analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.23%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the transaction, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. In the last three months, insiders sold 33,726 shares of company stock valued at $2,504,728. Corporate insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

MKC has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Citigroup upped their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. 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. Finally, Barclays raised their price target 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.88.

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.