TRUE Private Wealth Advisors Purchases 1,566 Shares of McCormick & Company, Incorporated (NYSE:MKC)

TRUE Private Wealth Advisors lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 55.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,407 shares of the company’s stock after acquiring an additional 1,566 shares during the quarter. TRUE Private Wealth Advisors’ holdings in McCormick & Company, Incorporated were worth $302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MKC. American Century Companies Inc. raised its position in shares of McCormick & Company, Incorporated by 15.9% during the first quarter. American Century Companies Inc. now owns 5,072 shares of the company’s stock worth $506,000 after acquiring an additional 696 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of McCormick & Company, Incorporated by 28.1% during the first quarter. Vontobel Holding Ltd. now owns 6,448 shares of the company’s stock worth $627,000 after purchasing an additional 1,415 shares during the period. Sei Investments Co. grew its stake in shares of McCormick & Company, Incorporated by 1.0% during the first quarter. Sei Investments Co. now owns 108,139 shares of the company’s stock worth $10,803,000 after purchasing an additional 1,048 shares during the period. Prudential PLC acquired a new stake in shares of McCormick & Company, Incorporated during the first quarter worth $543,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated during the first quarter worth $313,000. Institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MKC shares. Barclays lifted their price objective on 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. Citigroup upped their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Stifel Nicolaus upped their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $77.88.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred 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 owns 39,181 shares in the company, valued at $2,554,601.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction that occurred 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 owns 39,181 shares in the company, valued at $2,554,601.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patricia A. Little sold 20,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the sale, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,000 shares of company stock worth $2,376,400. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $72.27 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average price is $70.31 and its two-hundred day moving average price is $67.48. The firm has a market capitalization of $19.40 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 3.68 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.

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

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.32%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

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.