Trueblood Wealth Management LLC Takes $294,000 Position in McCormick & Company, Incorporated (NYSE:MKC)

Trueblood Wealth Management LLC acquired a new position in McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,295 shares of the company’s stock, valued at approximately $294,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SVB Wealth LLC boosted its holdings in shares of McCormick & Company, Incorporated by 3.0% in the 1st quarter. SVB Wealth LLC now owns 3,937 shares of the company’s stock valued at $393,000 after acquiring an additional 114 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of McCormick & Company, Incorporated by 0.3% in the 1st quarter. Wellington Management Group LLP now owns 53,866 shares of the company’s stock valued at $4,482,000 after purchasing an additional 148 shares in the last quarter. Asset Dedication LLC lifted its position in shares of McCormick & Company, Incorporated by 7.5% during the 2nd quarter. Asset Dedication LLC now owns 2,150 shares of the company’s stock valued at $187,000 after buying an additional 150 shares in the last quarter. Kinneret Advisory LLC increased its stake in shares of McCormick & Company, Incorporated by 2.3% during the first quarter. Kinneret Advisory LLC now owns 6,880 shares of the company’s stock worth $687,000 after purchasing an additional 154 shares in the last quarter. Finally, PFG Investments LLC lifted its position in shares of McCormick & Company, Incorporated by 2.6% in the fourth quarter. PFG Investments LLC now owns 6,981 shares of the company’s stock valued at $478,000 after acquiring an additional 179 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on 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. Consumer Edge cut McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. 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 report on Thursday. Stifel Nicolaus lifted their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Citigroup increased their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $76.25.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated 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 value 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.90% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Up 1.0 %

Shares of NYSE MKC traded up $0.78 during midday trading on Thursday, hitting $76.81. 2,583,550 shares of the company’s stock were exchanged, compared to its average volume of 2,168,727. The company has a market cap of $20.60 billion, a PE ratio of 29.02, a P/E/G ratio of 4.20 and a beta of 0.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.28. McCormick & Company, Incorporated has a twelve month low of $59.13 and a twelve month high of $94.39. The firm’s fifty day simple moving average is $67.73 and its 200-day simple moving average is $67.74.

McCormick & Company, Incorporated (NYSE:MKC) last announced its 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 during the quarter, compared to analysts’ expectations of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 earnings per share. Research analysts predict that McCormick & Company, Incorporated will post 2.82 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.19%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

About McCormick & Company, Incorporated

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.