Waverly Advisors LLC Sells 794 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Waverly Advisors LLC decreased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,474 shares of the company’s stock after selling 794 shares during the period. Waverly Advisors LLC owned approximately 0.05% of McCormick & Company, Incorporated worth $10,710,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MKC. Assenagon Asset Management S.A. grew its position in McCormick & Company, Incorporated by 146.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 48,298 shares of the company’s stock worth $3,682,000 after purchasing an additional 28,736 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of McCormick & Company, Incorporated by 12.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,652 shares of the company’s stock valued at $583,000 after buying an additional 851 shares during the period. Merit Financial Group LLC grew its position in McCormick & Company, Incorporated by 19.1% during the fourth quarter. Merit Financial Group LLC now owns 9,772 shares of the company’s stock worth $745,000 after buying an additional 1,569 shares in the last quarter. HB Wealth Management LLC increased its stake in McCormick & Company, Incorporated by 7.3% during the fourth quarter. HB Wealth Management LLC now owns 5,642 shares of the company’s stock valued at $430,000 after acquiring an additional 384 shares during the period. Finally, Diversify Wealth Management LLC increased its stake in McCormick & Company, Incorporated by 86.9% during the fourth quarter. Diversify Wealth Management LLC now owns 28,249 shares of the company’s stock valued at $2,017,000 after acquiring an additional 13,132 shares during the period. Institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The sale 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 the business’s stock in a transaction on 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 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 position. The disclosure for this sale can be found here. Insiders sold 60,392 shares of company stock worth $4,898,101 in the last quarter. 23.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on MKC shares. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. upped their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. Finally, Barclays reduced their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.14.

McCormick & Company, Incorporated Trading Down 0.4%

MKC stock opened at $74.13 on Wednesday. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $76.96 and its 200-day moving average is $77.43. The firm has a market cap of $19.88 billion, a P/E ratio of 25.30, a P/E/G ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 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 company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the firm earned $0.63 EPS. McCormick & Company, Incorporated’s quarterly revenue was up .2% compared to the same quarter last year. Equities 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 announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is 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.