3,014 Shares in McCormick & Company, Incorporated (NYSE:MKC) Bought by Spirepoint Private Client LLC

Spirepoint Private Client LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,014 shares of the company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. VisionPoint Advisory Group LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $44,000. Valley National Advisers Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 283.9% in the fourth quarter. Valley National Advisers Inc. now owns 787 shares of the company’s stock valued at $53,000 after buying an additional 582 shares during the period. Private Trust Co. NA increased its position in shares of McCormick & Company, Incorporated by 59.1% during the fourth quarter. Private Trust Co. NA now owns 781 shares of the company’s stock worth $53,000 after acquiring an additional 290 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of McCormick & Company, Incorporated by 16.5% during the first quarter. Lindbrook Capital LLC now owns 944 shares of the company’s stock worth $73,000 after acquiring an additional 134 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of McCormick & Company, Incorporated by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,093 shares of the company’s stock worth $75,000 after acquiring an additional 461 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 80,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total value of $5,900,000.00. Following the transaction, the director now directly owns 199,258 shares in the company, valued at $14,695,277.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other McCormick & Company, Incorporated 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 directly owns 199,258 shares in the company, valued at $14,695,277.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katherine Jenkins sold 2,732 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $75.91, for a total value of $207,386.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 109,458 shares of company stock worth $8,110,714. Company insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC traded down $0.64 on Friday, hitting $73.59. 1,616,626 shares of the stock were exchanged, compared to its average volume of 2,322,386. The company has a market capitalization of $19.77 billion, a PE ratio of 26.86, a P/E/G ratio of 3.79 and a beta of 0.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The business’s fifty day moving average is $70.97 and its 200 day moving average is $70.52. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $90.45.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the firm earned $0.60 EPS. McCormick & Company, Incorporated’s quarterly revenue was down 1.0% compared to the same quarter last year. Research analysts anticipate that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, July 8th. McCormick & Company, Incorporated’s payout ratio is presently 61.31%.

Analyst Ratings Changes

MKC has been the subject of a number of research reports. Barclays increased their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Citigroup raised McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and lifted their target price for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note 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 for the company in a research note on Tuesday, April 2nd. Finally, TD Cowen cut their price objective on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $76.25.

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.