McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 29.4% 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 8,922 shares of the company's stock after selling 3,720 shares during the period. CIBC Private Wealth Group LLC's holdings in McCormick & Company, Incorporated were worth $665,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

MKC has been the topic of several recent analyst reports. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays cut their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. increased their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued 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, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and a consensus target price of $83.14.

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Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,842 shares of company stock valued at $6,478,332 in the last quarter. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 1.2 %

McCormick & Company, Incorporated stock traded down $0.85 during midday trading on Tuesday, hitting $73.07. 1,306,897 shares of the company's stock were exchanged, compared to its average volume of 1,918,849. 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 company has a market cap of $19.60 billion, a PE ratio of 24.97, a P/E/G ratio of 3.76 and a beta of 0.75. The firm has a 50-day moving average of $79.84 and a two-hundred day moving average of $78.62. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. McCormick & Company, Incorporated's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. As a group, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.46%. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

About McCormick & Company, Incorporated

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.