Merit Financial Group LLC Grows Position in McCormick & Company, Incorporated (NYSE:MKC)

Merit Financial Group LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 22.0% during the 4th quarter, Holdings Channel reports. The fund owned 3,860 shares of the company’s stock after buying an additional 697 shares during the period. Merit Financial Group LLC’s holdings in McCormick & Company, Incorporated were worth $264,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $36,000. Milestone Investment Advisors LLC purchased a new position in McCormick & Company, Incorporated during the third quarter valued at approximately $47,000. Valley National Advisers Inc. raised its stake in 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 in the last quarter. Private Trust Co. NA lifted its holdings in 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 buying an additional 290 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in McCormick & Company, Incorporated by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after buying an additional 461 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Barclays lifted their target price on 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. Stifel Nicolaus increased their price target 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 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, Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.88.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $75.55 on Thursday. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 3.87 and a beta of 0.73. The stock’s 50-day simple moving average is $72.73 and its 200-day simple moving average is $68.64.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the business earned $0.59 EPS. McCormick & Company, Incorporated’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares of the company’s stock, valued at approximately $430,738. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now directly owns 5,594 shares of the company’s stock, valued at approximately $430,738. The disclosure for this sale can be found here. Insiders have sold a total of 33,726 shares of company stock valued at $2,504,728 in the last ninety days. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated 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.