Baldwin Wealth Partners LLC MA Has $2.80 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Baldwin Wealth Partners LLC MA lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,965 shares of the company’s stock after selling 1,672 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in McCormick & Company, Incorporated were worth $2,796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Curio Wealth LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $30,000. Twin Tree Management LP acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $33,000. Ameriflex Group Inc. purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth approximately $33,000. Lee Danner & Bass Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $37,000. Finally, Parvin Asset Management LLC purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In related news, insider Katherine Jenkins sold 7,642 shares of the firm’s stock in a transaction that occurred 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 SEC, which can be accessed through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 247,437 shares of the company’s stock, valued at approximately $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 60,392 shares of company stock valued at $4,898,101 over the last three months. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Up 1.8%

Shares of NYSE MKC opened at $74.22 on Monday. The business has a 50 day simple moving average of $74.70 and a 200 day simple moving average of $77.06. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The stock has a market cap of $19.90 billion, a price-to-earnings ratio of 25.33, a PEG ratio of 3.76 and a beta of 0.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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 business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm earned $0.63 earnings per share. McCormick & Company, Incorporated’s revenue was up .2% compared to the same quarter last year. On average, research analysts predict 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 was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.86%.

Wall Street Analysts Forecast Growth

Separately, Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $83.14.

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.