Benjamin F. Edwards & Company Inc. Increases Stake in McCormick & Company, Incorporated (NYSE:MKC)

Benjamin F. Edwards & Company Inc. increased its position in McCormick & Company, Incorporated (NYSE:MKC) by 715.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 295,294 shares of the company’s stock after acquiring an additional 259,084 shares during the quarter. Benjamin F. Edwards & Company Inc. owned about 0.11% of McCormick & Company, Incorporated worth $20,204,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. KFG Wealth Management LLC increased its holdings in McCormick & Company, Incorporated by 3.1% in the 4th quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock worth $358,000 after acquiring an additional 158 shares during the last quarter. Beaumont Financial Advisors LLC increased its holdings in McCormick & Company, Incorporated by 4.5% in the 4th quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock worth $252,000 after acquiring an additional 159 shares during the last quarter. PFG Investments LLC increased its holdings in McCormick & Company, Incorporated by 2.6% in the 4th quarter. PFG Investments LLC now owns 6,981 shares of the company’s stock worth $478,000 after acquiring an additional 179 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in McCormick & Company, Incorporated by 3.2% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,205 shares of the company’s stock valued at $425,000 after buying an additional 195 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT grew its holdings in McCormick & Company, Incorporated by 0.9% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 22,996 shares of the company’s stock valued at $1,573,000 after buying an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.8 %

MKC stock traded up $0.59 during midday trading on Thursday, hitting $75.14. The company had a trading volume of 1,479,298 shares, compared to its average volume of 2,046,913. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $94.39. The stock’s 50 day moving average price is $72.11 and its 200 day moving average price is $68.18. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 3.90 and a beta of 0.73.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.24%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

Insider Activity

In other news, Director Maritza Gomez Montiel sold 7,000 shares of the business’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 transaction, the director now directly owns 5,594 shares of the company’s stock, valued at $430,738. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the sale, the director now directly owns 5,594 shares of the company’s stock, valued at $430,738. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,726 shares of company stock valued at $2,504,728. Company insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MKC. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, April 2nd. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Barclays lifted their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Stifel Nicolaus lifted their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Finally, Citigroup lifted their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $77.88.

McCormick & Company, Incorporated 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.