Bryn Mawr Capital Management LLC Acquires 223 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Bryn Mawr Capital Management LLC lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,576 shares of the company’s stock after purchasing an additional 223 shares during the period. Bryn Mawr Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $450,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Legacy Financial Group LLC purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth about $29,000. Anchor Investment Management LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth about $36,000. Milestone Investment Advisors LLC purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth about $47,000. Private Trust Co. NA increased its holdings in McCormick & Company, Incorporated by 59.1% in the 4th quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after acquiring an additional 290 shares during the last quarter. Finally, Valley National Advisers Inc. increased its holdings in McCormick & Company, Incorporated by 283.9% in the 4th quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock worth $53,000 after acquiring an additional 582 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup lifted their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, January 26th. Barclays boosted their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Finally, Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $77.88.

Insider Activity

In other news, Director Maritza Gomez Montiel sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was 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 $430,738. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 value of $539,000.00. Following the transaction, the director now directly owns 5,594 shares in the company, valued at $430,738. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,726 shares of company stock valued at $2,504,728. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $75.73 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The stock has a 50 day moving average price of $71.61 and a two-hundred day moving average price of $67.87. The company has a market capitalization of $20.33 billion, a P/E ratio of 28.90, a PEG ratio of 3.88 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. 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 was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 64.12%.

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.