McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 5.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,213 shares of the company’s stock after selling 9,029 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.06% of McCormick & Company, Incorporated worth $12,920,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Robeco Institutional Asset Management B.V. lifted its holdings in shares of McCormick & Company, Incorporated by 151.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 69,805 shares of the company’s stock worth $5,280,000 after acquiring an additional 42,078 shares during the last quarter. Xponance Inc. boosted its position in shares of McCormick & Company, Incorporated by 3.4% during the third quarter. Xponance Inc. now owns 32,248 shares of the company’s stock worth $2,439,000 after buying an additional 1,066 shares during the period. Stratos Wealth Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 10.2% during the third quarter. Stratos Wealth Advisors LLC now owns 2,813 shares of the company’s stock worth $213,000 after buying an additional 260 shares during the period. Legacy Financial Group LLC acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at $29,000. Finally, Forsta AP Fonden raised its holdings in shares of McCormick & Company, Incorporated by 7.1% in the 3rd quarter. Forsta AP Fonden now owns 40,900 shares of the company’s stock valued at $3,094,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MKC. Stifel Nicolaus lifted their target price on 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 upped their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, April 2nd. Barclays upped their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Finally, Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a 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 data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus price target of $77.88.

McCormick & Company, Incorporated Stock Up 0.4 %

Shares of MKC stock traded up $0.31 on Friday, reaching $75.45. 1,584,356 shares of the stock were exchanged, compared to its average volume of 1,591,954. The company has a market capitalization of $20.25 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.85 and a beta of 0.73. The business’s 50 day moving average price is $72.40 and its 200 day moving average price is $68.32. 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 has a twelve month low of $59.13 and a twelve month high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous 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, sell-side analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a dividend of $0.42 per share. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.23%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Insider Activity

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the sale, the director now directly owns 39,181 shares in the company, valued at approximately $2,554,601.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the transaction, the director now owns 39,181 shares in the company, valued at approximately $2,554,601.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,726 shares of company stock worth $2,504,728. Corporate 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.