Beacon Harbor Wealth Advisors Inc. reduced its stake in McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 49.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,900 shares of the company’s stock after selling 25,800 shares during the period. Beacon Harbor Wealth Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $2,132,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. HCR Wealth Advisors boosted its position in McCormick & Company, Incorporated by 2.6% in the 2nd quarter. HCR Wealth Advisors now owns 5,372 shares of the company’s stock valued at $381,000 after buying an additional 135 shares during the last quarter. Wallington Asset Management LLC lifted its stake in McCormick & Company, Incorporated by 3.4% during the third quarter. Wallington Asset Management LLC now owns 4,136 shares of the company’s stock worth $340,000 after purchasing an additional 136 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in McCormick & Company, Incorporated by 2.9% during the second quarter. Aptus Capital Advisors LLC now owns 5,030 shares of the company’s stock valued at $357,000 after purchasing an additional 141 shares during the last quarter. KFG Wealth Management LLC increased its stake in McCormick & Company, Incorporated by 1.5% during the second quarter. KFG Wealth Management LLC now owns 10,434 shares of the company’s stock valued at $740,000 after purchasing an additional 156 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of McCormick & Company, Incorporated by 87.5% during the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after purchasing an additional 175 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.
McCormick & Company, Incorporated Stock Down 0.4 %
Shares of McCormick & Company, Incorporated stock opened at $76.34 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. The business’s fifty day moving average price is $81.02 and its two-hundred day moving average price is $76.19. The company has a market capitalization of $20.49 billion, a P/E ratio of 25.97, a PEG ratio of 3.57 and a beta of 0.77.
McCormick & Company, Incorporated Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.20%. The ex-dividend date was Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 57.14%.
Insider Activity at McCormick & Company, Incorporated
In other news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the sale, the director now directly owns 28,217 shares of the company’s stock, valued at $2,210,237.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 22.90% of the company’s stock.
Analyst Ratings Changes
MKC has been the subject of a number of recent research reports. 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 report on Wednesday, October 2nd. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Bank of America boosted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average target price of $79.57.
Read Our Latest Stock Analysis on McCormick & Company, Incorporated
McCormick & Company, Incorporated Company Profile
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.
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