McCormick & Company, Incorporated $MKC Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 566,253 shares of the company’s stock after selling 38,896 shares during the quarter. Bartlett & CO. Wealth Management LLC owned 0.21% of McCormick & Company, Incorporated worth $38,834,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of McCormick & Company, Incorporated by 5.1% in the 3rd quarter. State Street Corp now owns 15,522,816 shares of the company’s stock valued at $1,038,632,000 after buying an additional 747,844 shares during the period. Invesco Ltd. boosted its position in shares of McCormick & Company, Incorporated by 66.7% in the 3rd quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock valued at $417,006,000 after purchasing an additional 2,494,544 shares during the period. Wellington Management Group LLP boosted its position in shares of McCormick & Company, Incorporated by 67.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company’s stock valued at $187,183,000 after purchasing an additional 1,124,003 shares during the period. ProShare Advisors LLC lifted its position in McCormick & Company, Incorporated by 13.1% during the 3rd quarter. ProShare Advisors LLC now owns 2,389,571 shares of the company’s stock worth $159,886,000 after acquiring an additional 277,257 shares during the period. Finally, Legal & General Group Plc lifted its position in McCormick & Company, Incorporated by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 1,647,175 shares of the company’s stock worth $110,212,000 after acquiring an additional 52,488 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $67.92, for a total transaction of $339,600.00. Following the completion of the sale, the director directly owned 43,029 shares in the company, valued at approximately $2,922,529.68. This trade represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $71.63, for a total value of $3,581,500.00. Following the transaction, the insider owned 296,992 shares in the company, valued at approximately $21,273,536.96. This trade represents a 14.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 115,000 shares of company stock worth $7,947,300. Corporate insiders own 10.60% of the company’s stock.

Analysts Set New Price Targets

MKC has been the subject of a number of analyst reports. Stifel Nicolaus cut their target price on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Barclays decreased their price objective on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. reduced their target price on McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $64.27.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $53.67 on Friday. The stock has a fifty day moving average price of $61.12 and a two-hundred day moving average price of $64.40. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The firm has a market cap of $14.41 billion, a P/E ratio of 8.80, a PEG ratio of 2.52 and a beta of 0.71. McCormick & Company, Incorporated has a 1 year low of $47.52 and a 1 year high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. Research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 27th. Investors of record on Monday, April 20th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 31.48%.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.