Robertson Stephens Wealth Management LLC Cuts Position in McCormick & Company, Incorporated (NYSE:MKC)

Robertson Stephens Wealth Management LLC lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,119 shares of the company’s stock after selling 478 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,729,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Legacy Financial Group LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $29,000. Anchor Investment Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth $36,000. Milestone Investment Advisors LLC acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth $47,000. Private Trust Co. NA lifted its position in shares of McCormick & Company, Incorporated by 59.1% during the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after purchasing an additional 290 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake in shares of 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 buying an additional 582 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

NYSE MKC traded up $0.56 on Thursday, reaching $75.11. The stock had a trading volume of 225,163 shares, compared to its average volume of 2,031,529. The company has a market cap of $20.16 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 3.90 and a beta of 0.73. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year 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. The firm has a fifty day moving average of $72.11 and a two-hundred day moving average of $68.18.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.24%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 64.12%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, April 2nd. Stifel Nicolaus raised their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Citigroup raised their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. Finally, Barclays increased their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, March 28th. Two equities research 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.88.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the transaction, the director now directly owns 39,181 shares in the company, valued at $2,554,601.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total value of $326,000.00. Following the sale, the director now owns 39,181 shares in the company, valued at approximately $2,554,601.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction on Monday, April 22nd. The shares were 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. Insiders have sold a total of 33,726 shares of company stock worth $2,504,728 over the last ninety days. 22.90% of the stock is currently owned by company insiders.

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.