McCormick & Company, Incorporated (NYSE:MKC) Stock Position Lowered by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lessened its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,596 shares of the company’s stock after selling 252 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in McCormick & Company, Incorporated were worth $2,162,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Kestra Private Wealth Services LLC lifted its position in shares of McCormick & Company, Incorporated by 98.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,222 shares of the company’s stock valued at $494,000 after acquiring an additional 3,583 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its position in McCormick & Company, Incorporated by 0.9% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 22,996 shares of the company’s stock worth $1,573,000 after buying an additional 206 shares in the last quarter. Valmark Advisers Inc. lifted its position in McCormick & Company, Incorporated by 26.4% in the 4th quarter. Valmark Advisers Inc. now owns 3,945 shares of the company’s stock worth $270,000 after buying an additional 825 shares in the last quarter. Headlands Technologies LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth approximately $101,000. Finally, Bryn Mawr Capital Management LLC lifted its position in McCormick & Company, Incorporated by 3.5% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 6,576 shares of the company’s stock worth $450,000 after buying an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the transaction, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred 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 completion of the sale, the director now owns 39,181 shares in the company, valued at approximately $2,554,601.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the sale, the director now owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,726 shares of company stock valued at $2,504,728. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC stock traded down $0.13 during trading on Tuesday, hitting $76.16. 656,990 shares of the stock traded hands, compared to its average volume of 2,027,801. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $94.39. The stock has a market cap of $20.44 billion, a price-to-earnings ratio of 29.12, a P/E/G ratio of 3.88 and a beta of 0.74. The company has a 50 day simple moving average of $71.81 and a 200 day simple moving average of $68.02. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the firm posted $0.59 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays increased 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 research report on Thursday, March 28th. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Consumer Edge lowered shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $77.88.

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.