Cutter & CO Brokerage Inc. Lowers Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Cutter & CO Brokerage Inc. trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,655 shares of the company’s stock after selling 151 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in McCormick & Company, Incorporated were worth $3,055,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Legacy Financial Group LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $29,000. Anchor Investment Management LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $36,000. Milestone Investment Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth about $47,000. Valley National Advisers Inc. boosted its stake in shares of 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 in the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of 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 in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MKC has been the topic of several recent analyst reports. 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 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 on the stock in a research note on Tuesday, April 2nd. Citigroup raised their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research note 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. Finally, JPMorgan Chase & Co. decreased 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 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. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average price target of $77.88.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the firm’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 value of $128,328.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the transaction, the director now directly owns 5,594 shares of the company’s stock, valued at approximately $430,738. 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. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.4 %

Shares of NYSE MKC traded up $0.33 during midday trading on Tuesday, reaching $75.02. 1,701,056 shares of the stock were exchanged, compared to its average volume of 2,070,717. The company has a 50 day simple moving average of $70.80 and a 200 day simple moving average of $67.56. The stock has a market capitalization of $20.14 billion, a P/E ratio of 28.51, a PEG ratio of 3.79 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. 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. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $0.59 EPS. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.24%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

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.