CIBC Private Wealth Group LLC Sells 3,720 Shares of McCormick & Company, Incorporated (NYSE:MKC)

CIBC Private Wealth Group LLC trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 29.4% during the 4th quarter, HoldingsChannel reports. The fund owned 8,922 shares of the company’s stock after selling 3,720 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in McCormick & Company, Incorporated were worth $665,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $30,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated in the fourth quarter worth $33,000. Twin Tree Management LP acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Lee Danner & Bass Inc. bought a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $37,000. Finally, Rosenberg Matthew Hamilton acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $38,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $76.36 on Friday. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The stock has a market capitalization of $20.48 billion, a PE ratio of 26.06, a PEG ratio of 3.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The stock’s fifty day moving average is $79.91 and its 200-day moving average is $78.76.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The company’s revenue was up .2% compared to the same quarter last year. Equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio is 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. This represents a 54.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the sale, the director now owns 247,437 shares of the company’s stock, valued at approximately $20,242,820.97. This represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,842 shares of company stock worth $6,478,332. Insiders own 23.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. Barclays cut their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average target price of $83.14.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.