McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Smithfield Trust Co

Smithfield Trust Co cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKCFree Report) by 15.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,458 shares of the company’s stock after selling 656 shares during the period. Smithfield Trust Co’s holdings in McCormick & Company, Incorporated were worth $238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MKC. Anchor Investment Management LLC purchased a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $36,000. Milestone Investment Advisors LLC acquired a new position in McCormick & Company, Incorporated in the third quarter valued at approximately $47,000. Valley National Advisers Inc. raised its holdings in McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares during the period. Private Trust Co. NA grew its position in McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after purchasing an additional 290 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in 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 in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Up 1.1 %

MKC traded up $0.81 on Friday, reaching $76.15. 793,001 shares of the company’s stock were exchanged, compared to its average volume of 1,608,222. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The company’s 50 day moving average is $73.02 and its 200-day moving average is $68.74. The company has a market cap of $20.44 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 3.89 and a beta of 0.73.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a dividend of $0.42 per share. 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 2.21%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s 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 completion of the transaction, the director now directly owns 5,594 shares in the company, valued at approximately $430,738. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The disclosure for this sale can be found here. Insiders have sold 33,726 shares of company stock worth $2,504,728 over the last three months. Company insiders own 22.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MKC shares. Argus upgraded 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 report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered 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 report on Friday, January 26th. Consumer Edge lowered shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Barclays increased their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Finally, Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.88.

Read Our Latest Report on McCormick & Company, Incorporated

McCormick & Company, Incorporated Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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