Apollon Wealth Management LLC Acquires New Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Apollon Wealth Management LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,737 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors also recently modified their holdings of MKC. Vest Financial LLC boosted its holdings in shares of McCormick & Company, Incorporated by 9.7% during the 4th quarter. Vest Financial LLC now owns 720,578 shares of the company’s stock worth $54,937,000 after buying an additional 63,638 shares during the period. Tobam increased its stake in shares of McCormick & Company, Incorporated by 5.4% in the fourth quarter. Tobam now owns 26,648 shares of the company’s stock worth $2,032,000 after purchasing an additional 1,368 shares during the period. Global X Japan Co. Ltd. increased its stake in shares of McCormick & Company, Incorporated by 16.2% in the fourth quarter. Global X Japan Co. Ltd. now owns 6,604 shares of the company’s stock worth $503,000 after purchasing an additional 920 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in McCormick & Company, Incorporated by 1.2% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,610 shares of the company’s stock valued at $2,791,000 after purchasing an additional 449 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in McCormick & Company, Incorporated by 1.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 623,774 shares of the company’s stock valued at $47,557,000 after purchasing an additional 11,417 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.6 %

MKC stock opened at $77.07 on Friday. McCormick & Company, Incorporated has a 1-year low of $64.86 and a 1-year high of $85.49. The firm has a market cap of $20.67 billion, a P/E ratio of 26.30, a P/E/G ratio of 3.67 and a beta of 0.75. The business’s 50 day moving average is $76.61 and its 200-day moving average is $78.40. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, December 30th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.34%. McCormick & Company, Incorporated’s dividend payout ratio is 61.43%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MKC. Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $91.00 in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.75.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now owns 6,177 shares in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.90% of the company’s stock.

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.