Beacon Harbor Wealth Advisors Inc. Sells 20,814 Shares of McCormick & Company, Incorporated $MKC

Beacon Harbor Wealth Advisors Inc. cut its position in McCormick & Company, Incorporated (NYSE:MKC) by 80.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,086 shares of the company’s stock after selling 20,814 shares during the quarter. Beacon Harbor Wealth Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MKC. Heartwood Wealth Advisors LLC acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. GoalVest Advisory LLC acquired a new position in McCormick & Company, Incorporated in the 4th quarter valued at $28,000. SouthState Bank Corp grew its stake in McCormick & Company, Incorporated by 1,777.8% in the 3rd quarter. SouthState Bank Corp now owns 507 shares of the company’s stock valued at $34,000 after buying an additional 480 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $37,000. Finally, Rakuten Investment Management Inc. acquired a new position in McCormick & Company, Incorporated in the 3rd quarter valued at $47,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $53.67 on Friday. The business has a 50 day moving average price of $61.12 and a 200 day moving average price of $64.40. McCormick & Company, Incorporated has a twelve month low of $47.52 and a twelve month high of $78.16. The company has a market cap of $14.41 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 2.63 and a beta of 0.71. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48.

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

McCormick & Company, Incorporated Announces Dividend

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

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $67.92, for a total value of $339,600.00. Following the completion of the sale, the director owned 43,029 shares in the company, valued at approximately $2,922,529.68. This trade represents a 10.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $67.09, for a total value of $335,450.00. Following the completion of the sale, the director owned 31,596 shares of the company’s stock, valued at $2,119,775.64. This represents a 13.66% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 115,000 shares of company stock worth $7,947,300. 10.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MKC. Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Sanford C. Bernstein decreased their target price on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. TD Cowen decreased their target price on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. HSBC decreased their target price on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Finally, BNP Paribas Exane decreased their target price on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $64.27.

McCormick & Company, Incorporated 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.