McCormick & Company, Incorporated $MKC Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,306 shares of the company’s stock after selling 10,852 shares during the period. Parallel Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $6,151,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators lifted its position in shares of McCormick & Company, Incorporated by 67.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after acquiring an additional 164 shares during the period. GoalVest Advisory LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $28,000. SouthState Bank Corp lifted its position in shares of McCormick & Company, Incorporated by 1,777.8% during the 3rd quarter. SouthState Bank Corp now owns 507 shares of the company’s stock valued at $34,000 after acquiring an additional 480 shares during the period. Legacy Wealth Managment LLC ID acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $40,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $43,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Up 1.5%

Shares of McCormick & Company, Incorporated stock opened at $47.31 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. McCormick & Company, Incorporated has a 1 year low of $44.82 and a 1 year high of $78.16. The company has a market capitalization of $12.71 billion, a P/E ratio of 7.75, a P/E/G ratio of 2.29 and a beta of 0.65. The business has a 50 day moving average price of $49.48 and a 200 day moving average price of $59.88.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s payout ratio is currently 31.48%.

Insider Activity

In related news, Director Gavin Hattersley acquired 2,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This trade represents a 220.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MKC shares. Stifel Nicolaus reduced their price target on shares of 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. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Sanford C. Bernstein reduced their price target on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Monday, April 27th. Finally, TD Cowen reduced their price target on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.36.

About McCormick & Company, Incorporated

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.