Sequoia Financial Advisors LLC Raises Position in McCormick & Company, Incorporated (NYSE:MKC)

Sequoia Financial Advisors LLC increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 76.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,270 shares of the company’s stock after purchasing an additional 2,708 shares during the period. Sequoia Financial Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $429,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MKC. SVB Wealth LLC lifted its position in McCormick & Company, Incorporated by 3.0% in the first quarter. SVB Wealth LLC now owns 3,937 shares of the company’s stock valued at $393,000 after purchasing an additional 114 shares during the period. Wellington Management Group LLP lifted its position in McCormick & Company, Incorporated by 0.3% in the first quarter. Wellington Management Group LLP now owns 53,866 shares of the company’s stock valued at $4,482,000 after purchasing an additional 148 shares during the period. Kinneret Advisory LLC lifted its position in McCormick & Company, Incorporated by 2.3% in the first quarter. Kinneret Advisory LLC now owns 6,880 shares of the company’s stock valued at $687,000 after purchasing an additional 154 shares during the period. PFG Investments LLC lifted its position in McCormick & Company, Incorporated by 2.6% in the fourth quarter. PFG Investments LLC now owns 6,981 shares of the company’s stock valued at $478,000 after purchasing an additional 179 shares during the period. Finally, Ancora Advisors LLC lifted its position in McCormick & Company, Incorporated by 29.8% in the first quarter. Ancora Advisors LLC now owns 811 shares of the company’s stock valued at $67,000 after purchasing an additional 186 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $72.27 on Thursday. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. 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 stock’s 50 day moving average price is $70.31 and its 200 day moving average price is $67.48. The firm has a market cap of $19.40 billion, a P/E ratio of 27.58, a PEG ratio of 3.69 and a beta of 0.74.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, April 5th. McCormick & Company, Incorporated’s payout ratio is currently 64.12%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MKC shares. Stifel Nicolaus raised 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. Consumer Edge downgraded shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Citigroup lifted their price target on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Wednesday, March 27th. 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 research report on Tuesday, April 2nd. Finally, Barclays lifted 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 report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus price target of $77.88.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the completion of the transaction, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the completion of the transaction, the director now directly owns 24,732 shares in the company, valued at approximately $1,868,997.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Maritza Gomez Montiel sold 7,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total value of $539,000.00. Following the completion of the transaction, the director now owns 5,594 shares of the company’s stock, valued at $430,738. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,000 shares of company stock valued at $2,376,400. 22.90% of the stock is owned by corporate insiders.

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.