SFG Wealth Management LLC. Sells 450 Shares of McCormick & Company, Incorporated (NYSE:MKC)

SFG Wealth Management LLC. cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,856 shares of the company’s stock after selling 450 shares during the period. SFG Wealth Management LLC.’s holdings in McCormick & Company, Incorporated were worth $770,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MKC. abrdn plc boosted its holdings in McCormick & Company, Incorporated by 19.1% during the fourth quarter. abrdn plc now owns 443,332 shares of the company’s stock valued at $30,333,000 after acquiring an additional 71,133 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in McCormick & Company, Incorporated by 2.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 278,397 shares of the company’s stock valued at $23,165,000 after acquiring an additional 7,898 shares during the period. Trexquant Investment LP boosted its holdings in McCormick & Company, Incorporated by 374.3% during the fourth quarter. Trexquant Investment LP now owns 116,169 shares of the company’s stock valued at $7,948,000 after acquiring an additional 91,676 shares during the period. Ossiam boosted its holdings in McCormick & Company, Incorporated by 89.5% during the fourth quarter. Ossiam now owns 41,928 shares of the company’s stock valued at $2,869,000 after acquiring an additional 19,807 shares during the period. Finally, Blueshift Asset Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $430,000. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research analyst reports. TD Cowen cut their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price objective for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.25.

McCormick & Company, Incorporated Price Performance

NYSE:MKC traded up $0.34 during mid-day trading on Friday, hitting $77.18. The company’s stock had a trading volume of 1,566,137 shares, compared to its average volume of 1,971,682. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $86.11. The company has a current ratio of 0.69, a quick ratio of 0.31 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $20.73 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 4.02 and a beta of 0.75. The stock has a fifty day moving average of $72.73 and a 200-day moving average of $71.90.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is 61.31%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the sale, the director now owns 199,258 shares of the company’s stock, valued at $14,695,277.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 22.90% of the company’s stock.

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.