Axxcess Wealth Management LLC Increases Position in McCormick & Company, Incorporated (NYSE:MKC)

Axxcess Wealth Management LLC raised its position in McCormick & Company, Incorporated (NYSE:MKC) by 15.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,449 shares of the company’s stock after buying an additional 2,202 shares during the period. Axxcess Wealth Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,125,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MKC. Anchor Investment Management LLC purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $36,000. Milestone Investment Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $47,000. Valley National Advisers Inc. raised its holdings in McCormick & Company, Incorporated by 283.9% during the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after purchasing an additional 582 shares in the last quarter. Private Trust Co. NA raised its holdings in McCormick & Company, Incorporated by 59.1% during the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after purchasing an additional 290 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in McCormick & Company, Incorporated by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after purchasing an additional 461 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $75.45 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. The stock has a market cap of $20.25 billion, a P/E ratio of 28.80, a P/E/G ratio of 3.87 and a beta of 0.73. The firm has a 50 day simple moving average of $72.40 and a 200 day simple moving average of $68.42. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly 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. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a $0.42 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.23%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Insider Activity

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the transaction, the director now directly owns 39,181 shares in the company, valued at approximately $2,554,601.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the sale, the director now directly owns 39,181 shares of the company’s stock, valued at approximately $2,554,601.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the sale, the director now owns 5,594 shares in the company, valued at $430,738. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,726 shares of company stock worth $2,504,728. Corporate insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus increased 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, March 27th. 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 report on Tuesday, April 2nd. 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 report on Friday, January 26th. Citigroup lifted their target price on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday, March 27th. Finally, Barclays lifted their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.88.

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.