70,870 Shares in McCormick & Company, Incorporated (NYSE:MKC) Bought by Norden Group LLC

Norden Group LLC acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the first quarter, according to its most recent filing with the SEC. The firm acquired 70,870 shares of the company’s stock, valued at approximately $5,444,000.

Other institutional investors also recently bought and sold shares of the company. Anchor Investment Management LLC purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $36,000. VisionPoint Advisory Group LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter valued at approximately $44,000. Valley National Advisers Inc. raised its stake in shares of McCormick & Company, Incorporated by 283.9% during the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after buying an additional 582 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of McCormick & Company, Incorporated by 59.1% in the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after buying an additional 290 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of McCormick & Company, Incorporated by 72.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after buying an additional 461 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MKC has been the subject of several research analyst reports. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $68.00 to $69.00 in a research report on Wednesday, June 12th. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Tuesday, April 2nd. Barclays raised their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Stifel Nicolaus lifted their price objective 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, TD Cowen reduced their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $76.25.

McCormick & Company, Incorporated Stock Down 0.7 %

Shares of NYSE MKC opened at $69.72 on Thursday. The stock has a market capitalization of $18.71 billion, a PE ratio of 25.45, a P/E/G ratio of 3.63 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $72.00 and a 200-day moving average of $70.20. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $90.45.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. On average, analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is currently 61.31%.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total value of $5,900,000.00. Following the transaction, the director now owns 199,258 shares in the company, valued at $14,695,277.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at approximately $14,695,277.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Katherine Jenkins sold 2,732 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total value of $207,386.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,458 shares of company stock valued at $6,235,714. 22.90% of the stock is currently owned by corporate insiders.

About McCormick & Company, Incorporated

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.