B. Riley Wealth Advisors Inc. Cuts Stake in McCormick & Company, Incorporated (NYSE:MKC)

B. Riley Wealth Advisors Inc. lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,197 shares of the company’s stock after selling 419 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $289,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of McCormick & Company, Incorporated by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 30,235,814 shares of the company’s stock worth $2,068,734,000 after purchasing an additional 105,272 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of McCormick & Company, Incorporated by 41.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,359,068 shares of the company’s stock worth $366,667,000 after purchasing an additional 1,577,636 shares during the period. Norges Bank acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth $160,999,000. Charles Schwab Investment Management Inc. grew its stake in shares of McCormick & Company, Incorporated by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,353,150 shares of the company’s stock worth $92,583,000 after purchasing an additional 35,305 shares during the period. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth $92,340,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Patricia A. Little sold 20,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Patricia A. Little sold 20,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the transaction, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The disclosure for this sale can be found here. Insiders have sold a total of 104,458 shares of company stock worth $7,747,114 in the last three months. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $67.67 on Thursday. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $93.77. The stock has a market capitalization of $18.16 billion, a P/E ratio of 25.83, a P/E/G ratio of 3.58 and a beta of 0.74. The firm’s 50-day moving average is $72.39 and its two-hundred day moving average is $70.14. 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 released its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts predict that McCormick & Company, Incorporated will post 2.84 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.68 annualized dividend and a dividend yield of 2.48%. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

Wall Street Analyst Weigh In

MKC has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Barclays increased their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price objective for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, April 2nd. Finally, TD Cowen lowered their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $76.25.

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.