Kestra Private Wealth Services LLC Acquires 3,583 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Kestra Private Wealth Services LLC grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 98.5% in the fourth quarter, Holdings Channel reports. The fund owned 7,222 shares of the company’s stock after acquiring an additional 3,583 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in McCormick & Company, Incorporated were worth $494,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Northern Trust Corp raised its position in shares of McCormick & Company, Incorporated by 2.8% in the third quarter. Northern Trust Corp now owns 3,438,766 shares of the company’s stock valued at $260,108,000 after purchasing an additional 93,034 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of McCormick & Company, Incorporated by 2.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,221,637 shares of the company’s stock worth $168,045,000 after acquiring an additional 46,063 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of McCormick & Company, Incorporated by 15.4% in the third quarter. Invesco Ltd. now owns 1,828,576 shares of the company’s stock worth $138,313,000 after acquiring an additional 244,211 shares during the period. Alecta Tjanstepension Omsesidigt bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $92,340,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of McCormick & Company, Incorporated by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,317,845 shares of the company’s stock valued at $99,682,000 after purchasing an additional 19,962 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.57, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were 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. In the last 90 days, insiders sold 33,726 shares of company stock valued at $2,504,728. Corporate insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on MKC shares. JPMorgan Chase & Co. cut their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note 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 upped their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Citigroup raised their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday, March 27th. Finally, 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 report on Wednesday, March 27th. Two investment analysts have 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 MarketBeat, the company has an average rating of “Hold” and a consensus price target of $77.88.

McCormick & Company, Incorporated Stock Up 0.4 %

MKC opened at $75.76 on Tuesday. The business’s fifty day simple moving average is $72.56 and its 200 day simple moving average is $68.53. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39. 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 has a market cap of $20.33 billion, a PE ratio of 28.92, a P/E/G ratio of 3.87 and a beta of 0.73.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 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 company’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 EPS. As a group, research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a $0.42 dividend. 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 2.22%. McCormick & Company, Incorporated’s payout ratio is 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.