Alliance Wealth Advisors LLC UT Has $1.57 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Alliance Wealth Advisors LLC UT lifted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,996 shares of the company’s stock after purchasing an additional 206 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in McCormick & Company, Incorporated were worth $1,573,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Financial Group LLC acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $29,000. Anchor Investment Management LLC acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth $36,000. Milestone Investment Advisors LLC acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth $47,000. Private Trust Co. NA grew its holdings in McCormick & Company, Incorporated by 59.1% during the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after acquiring an additional 290 shares during the period. Finally, Valley National Advisers Inc. grew its holdings in McCormick & Company, Incorporated by 283.9% during the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after acquiring an additional 582 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 commented on MKC shares. Barclays lifted 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. Stifel Nicolaus boosted their price objective 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. JPMorgan Chase & Co. cut their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Citigroup boosted their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Finally, Consumer Edge cut 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $77.88.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock traded up $0.17 during trading on Friday, hitting $75.73. 1,248,036 shares of the stock were exchanged, compared to its average volume of 1,639,012. The stock has a market capitalization of $20.33 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 3.88 and a beta of 0.74. The company has a fifty day moving average price of $71.61 and a 200-day moving average price of $67.83. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $94.39. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. McCormick & Company, Incorporated’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, equities analysts predict that McCormick & Company, Incorporated will post 2.85 EPS 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. Shareholders of record on Monday, April 8th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Insider Transactions at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Patricia A. Little sold 20,000 shares of the 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 completion of the transaction, the director now owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction that occurred 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. Company insiders own 22.90% of the company’s stock.

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.