McCormick & Company, Incorporated (NYSE:MKC) Holdings Lifted by Gen Wealth Partners Inc

Gen Wealth Partners Inc raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 20.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,184 shares of the company’s stock after buying an additional 2,901 shares during the quarter. Gen Wealth Partners Inc’s holdings in McCormick & Company, Incorporated were worth $1,310,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MKC. International Private Wealth Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 3.9% in the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after purchasing an additional 136 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in McCormick & Company, Incorporated by 2.8% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company’s stock valued at $382,000 after buying an additional 137 shares during the period. Empower Advisory Group LLC boosted its holdings in McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after buying an additional 138 shares during the last quarter. Bessemer Group Inc. grew its position in shares of McCormick & Company, Incorporated by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 43,002 shares of the company’s stock worth $3,278,000 after buying an additional 139 shares during the period. Finally, Hunter Associates Investment Management LLC increased its stake in shares of McCormick & Company, Incorporated by 1.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after acquiring an additional 153 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Gregory Repas sold 2,750 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,842 shares of company stock valued at $6,478,332 in the last quarter. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $76.10 on Friday. The firm’s 50 day moving average is $78.03 and its 200-day moving average is $77.60. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $20.41 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MKC shares. Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Barclays lowered their price target on 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, JPMorgan Chase & Co. lifted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $83.14.

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.