Cambridge Investment Research Advisors Inc. Has $5.43 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Cambridge Investment Research Advisors Inc. decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,949 shares of the company’s stock after selling 3,231 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $5,428,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sigma Planning Corp lifted its stake in McCormick & Company, Incorporated by 22.2% in the fourth quarter. Sigma Planning Corp now owns 5,562 shares of the company’s stock valued at $424,000 after acquiring an additional 1,009 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $374,000. NewEdge Wealth LLC lifted its stake in McCormick & Company, Incorporated by 13.5% in the fourth quarter. NewEdge Wealth LLC now owns 16,263 shares of the company’s stock valued at $1,240,000 after acquiring an additional 1,935 shares during the last quarter. New York Life Investment Management LLC lifted its stake in McCormick & Company, Incorporated by 0.5% in the fourth quarter. New York Life Investment Management LLC now owns 37,511 shares of the company’s stock valued at $2,860,000 after acquiring an additional 175 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in McCormick & Company, Incorporated by 1.8% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 98,090 shares of the company’s stock valued at $7,478,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $76.48 on Friday. The firm has a market capitalization of $20.51 billion, a PE ratio of 26.56, a PEG ratio of 3.88 and a beta of 0.68. The company’s 50-day moving average is $74.35 and its 200-day moving average is $76.70. McCormick & Company, Incorporated has a fifty-two week low of $69.00 and a fifty-two week high of $86.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.25.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.58%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, July 7th. McCormick & Company, Incorporated’s dividend payout ratio is 61.86%.

Insider Buying and Selling

In related news, insider Katherine Jenkins sold 7,642 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on MKC. Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. UBS Group began coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a “neutral” rating and a $83.00 price target for the company. Finally, Citigroup cut their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.13.

McCormick & Company, Incorporated Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.