McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,494 shares of the company’s stock after selling 500 shares during the period. Prio Wealth Limited Partnership’s holdings in McCormick & Company, Incorporated were worth $461,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its position in McCormick & Company, Incorporated by 27.0% in the 4th quarter. Allianz Asset Management GmbH now owns 38,107 shares of the company’s stock valued at $2,607,000 after purchasing an additional 8,113 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of McCormick & Company, Incorporated by 2.1% in the fourth quarter. California State Teachers Retirement System now owns 406,516 shares of the company’s stock valued at $27,814,000 after buying an additional 8,437 shares during the last quarter. NEOS Investment Management LLC acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $224,000. CIBC Private Wealth Group LLC grew its holdings in shares of McCormick & Company, Incorporated by 34.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 10,887 shares of the company’s stock worth $745,000 after buying an additional 2,768 shares during the last quarter. Finally, First Trust Advisors LP increased its position in McCormick & Company, Incorporated by 6.1% in the 4th quarter. First Trust Advisors LP now owns 1,004,628 shares of the company’s stock valued at $68,737,000 after acquiring an additional 57,839 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MKC shares. TD Cowen increased their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday. Bank of America increased their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $68.00 to $69.00 in a research note on Wednesday, June 12th. Finally, Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $79.57.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,944,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $82.06 on Thursday. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The business has a fifty day moving average of $80.21 and a two-hundred day moving average of $75.20. The company has a market cap of $22.04 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.15. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. As a group, analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, October 7th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

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.