Spring Capital Management LLC Raises Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Spring Capital Management LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,381 shares of the company’s stock after buying an additional 5,665 shares during the quarter. McCormick & Company, Incorporated makes up approximately 3.0% of Spring Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. Spring Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $3,789,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MKC. American Century Companies Inc. increased its holdings in McCormick & Company, Incorporated by 15.9% during the first quarter. American Century Companies Inc. now owns 5,072 shares of the company’s stock valued at $506,000 after buying an additional 696 shares during the period. Vontobel Holding Ltd. increased its holdings in McCormick & Company, Incorporated by 28.1% during the first quarter. Vontobel Holding Ltd. now owns 6,448 shares of the company’s stock valued at $627,000 after buying an additional 1,415 shares during the period. Sei Investments Co. increased its holdings in McCormick & Company, Incorporated by 1.0% during the first quarter. Sei Investments Co. now owns 108,139 shares of the company’s stock valued at $10,803,000 after buying an additional 1,048 shares during the period. Prudential PLC acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $543,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $313,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays raised their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Stifel Nicolaus lifted their price objective on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday. Citigroup lifted their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday. Finally, Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.25.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $76.03 on Thursday. The company has a 50-day moving average of $67.73 and a two-hundred day moving average of $67.74. The company has a current ratio of 0.68, a quick ratio of 0.28 and a debt-to-equity ratio of 0.63. The stock has a market cap of $20.39 billion, a P/E ratio of 29.02, a PEG ratio of 4.20 and a beta of 0.73. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. McCormick & Company, Incorporated’s revenue was up 2.4% compared to the same quarter last year. As a group, research analysts predict that McCormick & Company, Incorporated will post 2.82 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction 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 sale, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.90% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Company 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.