Parr Mcknight Wealth Management Group LLC Purchases New Shares in McCormick & Company, Incorporated (NYSE:MKC)

Parr Mcknight Wealth Management Group LLC bought a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,017 shares of the company's stock, valued at approximately $1,069,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its stake in McCormick & Company, Incorporated by 3.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 122,845 shares of the company's stock valued at $9,366,000 after purchasing an additional 4,322 shares during the last quarter. Pacific Point Advisors LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at approximately $1,352,000. Focus Partners Advisor Solutions LLC lifted its stake in McCormick & Company, Incorporated by 69.1% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 14,548 shares of the company's stock valued at $1,109,000 after purchasing an additional 5,945 shares during the last quarter. PharVision Advisers LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at approximately $202,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in McCormick & Company, Incorporated by 1.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,046,489 shares of the company's stock valued at $232,264,000 after purchasing an additional 43,353 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Up 1.1%

NYSE MKC traded up $0.80 on Thursday, hitting $72.18. The company's stock had a trading volume of 1,418,709 shares, compared to its average volume of 2,034,961. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The company's 50-day moving average is $75.84 and its 200 day moving average is $77.18. The firm has a market cap of $19.36 billion, a PE ratio of 24.64, a PEG ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the company posted $0.63 earnings per share. The company's revenue was up .2% compared to the same quarter last year. As a group, analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.49%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Separately, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $83.14.

About McCormick & Company, Incorporated

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.