SlateStone Wealth LLC Sells 364 Shares of McCormick & Company, Incorporated (NYSE:MKC)

SlateStone Wealth LLC decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,065 shares of the company’s stock after selling 364 shares during the quarter. SlateStone Wealth LLC’s holdings in McCormick & Company, Incorporated were worth $210,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. North Star Asset Management Inc. bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth $317,000. MCF Advisors LLC boosted its position in McCormick & Company, Incorporated by 29.2% during the fourth quarter. MCF Advisors LLC now owns 2,086 shares of the company’s stock valued at $143,000 after purchasing an additional 471 shares in the last quarter. Handelsbanken Fonder AB boosted its position in McCormick & Company, Incorporated by 25.3% during the fourth quarter. Handelsbanken Fonder AB now owns 156,987 shares of the company’s stock valued at $10,741,000 after purchasing an additional 31,691 shares in the last quarter. abrdn plc boosted its position in McCormick & Company, Incorporated by 19.1% during the fourth quarter. abrdn plc now owns 443,332 shares of the company’s stock valued at $30,333,000 after purchasing an additional 71,133 shares in the last quarter. Finally, Hunter Associates Investment Management LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $649,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.2 %

Shares of MKC traded down $0.15 during mid-day trading on Wednesday, reaching $74.87. The company’s stock had a trading volume of 164,172 shares, compared to its average volume of 2,046,118. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39. The stock has a market cap of $20.10 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 3.83 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. The company’s 50 day moving average is $71.00 and its 200 day moving average is $67.63.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. Equities analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, April 5th. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Insider Buying and Selling

In related news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the transaction, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,726 shares of company stock worth $2,504,728. 22.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MKC shares. Stifel Nicolaus raised 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. Barclays boosted their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. Citigroup boosted their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday, April 2nd. Finally, Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus 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.