HighTower Advisors LLC Has $4.28 Million Stake in McCormick & Company, Incorporated $MKC

HighTower Advisors LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 25.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,856 shares of the company’s stock after selling 21,205 shares during the quarter. HighTower Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $4,281,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Nuance Investments LLC acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter worth about $15,388,000. WINTON GROUP Ltd increased its holdings in shares of McCormick & Company, Incorporated by 76.9% during the 3rd quarter. WINTON GROUP Ltd now owns 37,500 shares of the company’s stock valued at $2,509,000 after acquiring an additional 16,300 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of McCormick & Company, Incorporated by 3.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 878,886 shares of the company’s stock valued at $58,806,000 after acquiring an additional 29,418 shares during the last quarter. Cibc World Market Inc. bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $3,819,000. Finally, Strengthening Families & Communities LLC raised its stake in shares of McCormick & Company, Incorporated by 3,178.6% in the 3rd quarter. Strengthening Families & Communities LLC now owns 33,048 shares of the company’s stock valued at $2,211,000 after acquiring an additional 32,040 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Sanford C. Bernstein dropped their price target on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Monday, April 27th. JPMorgan Chase & Co. dropped their price target on shares of McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Finally, BTIG Research started coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They issued a “neutral” rating on the stock. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $64.27.

McCormick & Company, Incorporated Trading Down 1.6%

NYSE:MKC opened at $46.78 on Friday. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 2.33 and a beta of 0.68. The company’s 50 day moving average is $50.27 and its 200-day moving average is $60.63. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the business posted $0.60 EPS. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were paid a $0.48 dividend. The ex-dividend date was Monday, April 20th. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 31.48%.

Insider Activity

In related news, Director Gavin Hattersley acquired 2,000 shares of the stock in a transaction dated Friday, April 10th. The shares were acquired at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the purchase, the director owned 2,906 shares in the company, valued at approximately $153,959.88. The trade was a 220.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.60% of the company’s stock.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.