HFR Wealth Management LLC Sells 125,994 Shares of McCormick & Company, Incorporated $MKC

HFR Wealth Management LLC lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 93.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,915 shares of the company’s stock after selling 125,994 shares during the period. HFR Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Deseret Mutual Benefit Administrators lifted its stake in McCormick & Company, Incorporated by 67.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after purchasing an additional 164 shares in the last quarter. GoalVest Advisory LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $28,000. SouthState Bank Corp raised its position in shares of McCormick & Company, Incorporated by 1,777.8% in the third quarter. SouthState Bank Corp now owns 507 shares of the company’s stock worth $34,000 after buying an additional 480 shares in the last quarter. Legacy Wealth Managment LLC ID purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $40,000. Finally, Elyxium Wealth LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at $43,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.1%

NYSE MKC opened at $47.31 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. The stock’s 50-day simple moving average is $49.48 and its two-hundred day simple moving average is $59.85. McCormick & Company, Incorporated has a twelve month low of $44.82 and a twelve month high of $78.16. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 2.32 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. Research analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 31.48%.

Analysts Set New Price Targets

Several research firms recently commented on MKC. Stifel Nicolaus reduced their target price on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. BNP Paribas Exane dropped their price target on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. BTIG Research started coverage on McCormick & Company, Incorporated in a report on Tuesday, April 14th. They set a “neutral” rating for the company. TD Cowen lowered their target price on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Finally, Zacks Research upgraded shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.36.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Gavin Hattersley acquired 2,000 shares of the stock in a transaction dated Friday, April 10th. The stock was purchased at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the acquisition, the director owned 2,906 shares in the company, valued at $153,959.88. The trade was a 220.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private?label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.