Barlow Wealth Partners Inc. Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Barlow Wealth Partners Inc. purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,405 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Anchor Investment Management LLC acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at about $36,000. Milestone Investment Advisors LLC acquired a new position in McCormick & Company, Incorporated during the third quarter valued at approximately $47,000. Valley National Advisers Inc. grew its holdings in McCormick & Company, Incorporated by 283.9% during the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after purchasing an additional 582 shares during the period. Private Trust Co. NA increased its stake in McCormick & Company, Incorporated by 59.1% in the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock valued at $53,000 after purchasing an additional 290 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in McCormick & Company, Incorporated by 72.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after purchasing an additional 461 shares during the period. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Up 0.6 %

Shares of NYSE MKC traded up $0.43 during midday trading on Tuesday, reaching $76.19. The company’s stock had a trading volume of 1,510,041 shares, compared to its average volume of 2,030,900. The stock has a 50 day simple moving average of $72.73 and a 200-day simple moving average of $68.64. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $20.45 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 3.87 and a beta of 0.73. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the business earned $0.59 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is presently 64.12%.

Insider Activity

In other news, Director Maritza Gomez Montiel sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the sale, the director now directly owns 5,594 shares of the company’s stock, valued at approximately $430,738. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maritza Gomez Montiel sold 7,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total value of $539,000.00. Following the transaction, the director now owns 5,594 shares in the company, valued at approximately $430,738. The disclosure for this sale can be found here. Insiders sold a total of 33,726 shares of company stock valued at $2,504,728 in the last quarter. Company insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Stifel Nicolaus upped their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, March 27th. Citigroup raised their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Wednesday, March 27th. Barclays boosted their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Finally, Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $77.88.

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.