RFG Bristol Wealth Advisors LLC Makes New $476,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

RFG Bristol Wealth Advisors LLC acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,242 shares of the company's stock, valued at approximately $476,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of McCormick & Company, Incorporated by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock valued at $2,419,653,000 after buying an additional 303,973 shares during the period. State Street Corp grew its position in McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock worth $1,260,499,000 after acquiring an additional 1,114,706 shares during the period. Geode Capital Management LLC raised its position in McCormick & Company, Incorporated by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock valued at $458,114,000 after purchasing an additional 137,679 shares during the period. Norges Bank acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $223,202,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of McCormick & Company, Incorporated by 58.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock worth $127,115,000 after purchasing an additional 568,276 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MKC. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price objective for the company from $85.00 to $91.00 in a 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. JPMorgan Chase & Co. upped their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. Barclays dropped their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Finally, TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus target price of $83.14.

Insider Activity 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 stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares of the company's stock, 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 have sold a total of 80,842 shares of company stock valued at $6,478,332 over the last 90 days. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 5.5 %

MKC stock traded down $4.48 during midday trading on Friday, hitting $76.36. The company's stock had a trading volume of 3,894,635 shares, compared to its average volume of 1,911,714. The firm has a 50-day simple moving average of $79.91 and a 200-day simple moving average of $78.72. The firm has a market capitalization of $20.48 billion, a P/E ratio of 26.06, a PEG ratio of 3.76 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $1.61 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company's revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

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

McCormick & Company, Incorporated 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.