First Trust Direct Indexing L.P. Has $558,000 Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

First Trust Direct Indexing L.P. reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 7.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,157 shares of the company’s stock after selling 612 shares during the period. First Trust Direct Indexing L.P.’s holdings in McCormick & Company, Incorporated were worth $558,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. New York Life Investment Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 39,362 shares of the company’s stock worth $2,693,000 after acquiring an additional 306 shares during the period. ICW Investment Advisors LLC increased its holdings in shares of McCormick & Company, Incorporated by 2.9% in the fourth quarter. ICW Investment Advisors LLC now owns 21,946 shares of the company’s stock valued at $1,502,000 after purchasing an additional 612 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of McCormick & Company, Incorporated by 8.8% in the fourth quarter. Victory Capital Management Inc. now owns 175,358 shares of the company’s stock valued at $11,998,000 after purchasing an additional 14,155 shares during the period. Mission Wealth Management LP lifted its stake in shares of McCormick & Company, Incorporated by 3.9% during the 4th quarter. Mission Wealth Management LP now owns 14,572 shares of the company’s stock worth $997,000 after buying an additional 541 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in shares of McCormick & Company, Incorporated by 98.5% during the 4th quarter. Kestra Private Wealth Services LLC now owns 7,222 shares of the company’s stock worth $494,000 after buying an additional 3,583 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.4 %

Shares of MKC stock opened at $75.45 on Monday. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The stock’s fifty day moving average price is $72.40 and its two-hundred day moving average price is $68.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. The company has a market cap of $20.25 billion, a PE ratio of 28.80, a P/E/G ratio of 3.87 and a beta of 0.73.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. McCormick & Company, Incorporated’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Equities 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 was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.23%. McCormick & Company, Incorporated’s dividend payout ratio is currently 64.12%.

Insiders Place Their Bets

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 transaction of $128,328.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares of the company’s stock, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,726 shares of company stock valued at $2,504,728. 22.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MKC shares. Stifel Nicolaus boosted their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, March 27th. Citigroup boosted their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. lowered their price objective on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, April 2nd. Finally, Barclays upped their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $77.88.

McCormick & Company, Incorporated 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.