First Horizon Advisors Inc. Lowers Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

First Horizon Advisors Inc. lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,561 shares of the company’s stock after selling 174 shares during the period. First Horizon Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MKC. Anchor Investment Management LLC purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $36,000. Milestone Investment Advisors LLC purchased a new position in McCormick & Company, Incorporated during the third quarter worth about $47,000. Private Trust Co. NA increased its stake in McCormick & Company, Incorporated by 59.1% in the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after acquiring an additional 290 shares during the last quarter. Valley National Advisers Inc. raised its holdings in shares of McCormick & Company, Incorporated by 283.9% in the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after acquiring an additional 582 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of McCormick & Company, Incorporated by 72.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock valued at $75,000 after acquiring an additional 461 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the sale, the director now owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katherine Jenkins sold 1,726 shares of the firm’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 disclosure for this sale can be found here. Insiders sold 33,726 shares of company stock worth $2,504,728 over the last three months. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $75.76 on Tuesday. 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 company has a market cap of $20.33 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 3.87 and a beta of 0.73. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. The company has a 50-day moving average price of $72.56 and a 200-day moving average price of $68.53.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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 firm 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%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

Analyst Ratings Changes

Several research firms have recently weighed in on MKC. Argus upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Tuesday, April 2nd. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, March 27th. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Barclays upped their price objective 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus 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.