B. Riley Wealth Advisors Inc. Reduces Stake in McCormick & Company, Incorporated (NYSE:MKC)

B. Riley Wealth Advisors Inc. trimmed its position in McCormick & Company, Incorporated (NYSE:MKC) by 29.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,237 shares of the company’s stock after selling 1,379 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $230,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in McCormick & Company, Incorporated by 2.9% in the first quarter. Vanguard Group Inc. now owns 31,119,141 shares of the company’s stock valued at $2,390,261,000 after purchasing an additional 883,327 shares during the period. Champlain Investment Partners LLC raised its position in McCormick & Company, Incorporated by 4.4% in the 1st quarter. Champlain Investment Partners LLC now owns 3,211,122 shares of the company’s stock valued at $246,646,000 after purchasing an additional 136,080 shares during the last quarter. ProShare Advisors LLC boosted its stake in McCormick & Company, Incorporated by 2.4% during the 1st quarter. ProShare Advisors LLC now owns 2,622,602 shares of the company’s stock worth $201,442,000 after purchasing an additional 60,512 shares during the period. Nuance Investments LLC grew its position in McCormick & Company, Incorporated by 10.5% during the 2nd quarter. Nuance Investments LLC now owns 1,052,220 shares of the company’s stock worth $74,644,000 after purchasing an additional 99,741 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in McCormick & Company, Incorporated by 97,525.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 976,255 shares of the company’s stock worth $69,256,000 after purchasing an additional 975,255 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the director now owns 199,258 shares of the company’s stock, valued at $14,944,350. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Up 0.1 %

McCormick & Company, Incorporated stock opened at $79.71 on Thursday. The stock’s 50 day moving average price is $80.55 and its 200 day moving average price is $75.55. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $85.49. The company has a market cap of $21.41 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 4.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be issued a $0.42 dividend. The ex-dividend date is Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.11%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Citigroup raised 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. Bank of America boosted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen boosted their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $79.57.

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.