Live Oak Private Wealth LLC Acquires Shares of 63,625 McCormick & Company, Incorporated (NYSE:MKC)

Live Oak Private Wealth LLC acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 63,625 shares of the company's stock, valued at approximately $4,353,000.

Other large investors have also recently made changes to their positions in the company. Legacy Financial Group LLC bought a new position in shares of McCormick & Company, Incorporated in the third quarter valued at $29,000. Point72 Hong Kong Ltd bought a new position in shares of McCormick & Company, Incorporated in the first quarter valued at $44,000. Anchor Investment Management LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at $36,000. ICA Group Wealth Management LLC bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at $46,000. Finally, KB Financial Partners LLC bought a new position in shares of McCormick & Company, Incorporated in the first quarter valued at $49,000. 79.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Consumer Edge lowered shares of McCormick & Company, Incorporated from an "overweight" rating to an "equal weight" rating in a research note on Monday, January 22nd. Stifel Nicolaus raised their price target 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. Argus raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and set a $88.00 price target on the stock in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price target on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an "underweight" rating on the stock in a research report on Friday, January 26th. Finally, Citigroup raised 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $77.88.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction dated 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 in the company, valued at $430,738. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Michael D. Mangan sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the transaction, the director now owns 39,181 shares of the company's stock, valued at $2,554,601.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Maritza Gomez Montiel sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the transaction, the director now directly owns 5,594 shares of the company's stock, valued at approximately $430,738. The disclosure for this sale can be found here. Insiders sold 32,000 shares of company stock worth $2,376,400 over the last quarter. Corporate insiders own 22.90% of the company's stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC traded down $1.66 during trading hours on Friday, reaching $71.76. 1,701,924 shares of the company were exchanged, compared to its average volume of 2,123,289. McCormick & Company, Incorporated has a 1 year low of $59.13 and a 1 year high of $94.39. The business's 50 day simple moving average is $69.96 and its 200-day simple moving average is $67.59. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $19.26 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.84 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company's revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.59 earnings per share. On average, equities research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.34%. McCormick & Company, Incorporated's payout ratio is 64.12%.

About McCormick & Company, Incorporated

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.

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