Savoir Faire Capital Management L.P. Lowers Stock Holdings in McCormick & Company, Incorporated $MKC

Savoir Faire Capital Management L.P. cut its position in McCormick & Company, Incorporated (NYSE:MKC) by 48.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 60,904 shares of the company’s stock after selling 57,409 shares during the period. McCormick & Company, Incorporated makes up 2.0% of Savoir Faire Capital Management L.P.’s portfolio, making the stock its 22nd biggest holding. Savoir Faire Capital Management L.P.’s holdings in McCormick & Company, Incorporated were worth $4,148,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Rafferty Asset Management LLC increased its stake in McCormick & Company, Incorporated by 0.7% during the third quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock worth $1,443,000 after purchasing an additional 157 shares during the period. Ransom Advisory Ltd boosted its stake in shares of McCormick & Company, Incorporated by 3.6% in the fourth quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock valued at $315,000 after purchasing an additional 160 shares during the period. Modern Wealth Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 5.9% in the second quarter. Modern Wealth Management LLC now owns 3,258 shares of the company’s stock valued at $247,000 after purchasing an additional 181 shares in the last quarter. First Affirmative Financial Network grew its holdings in shares of McCormick & Company, Incorporated by 3.0% in the third quarter. First Affirmative Financial Network now owns 6,252 shares of the company’s stock valued at $418,000 after purchasing an additional 181 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in McCormick & Company, Incorporated by 2.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 9,610 shares of the company’s stock worth $643,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

MKC has been the topic of a number of research reports. Stifel Nicolaus reduced their target price on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Sanford C. Bernstein cut their price objective on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 24th. Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft decreased their target price on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating for the company in a report on Monday, March 30th. Finally, HSBC cut their price target on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.27.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Gavin Hattersley acquired 2,000 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were acquired at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the acquisition, the director owned 2,906 shares in the company, valued at $153,959.88. The trade was a 220.75% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $67.09, for a total value of $335,450.00. Following the sale, the director directly owned 31,596 shares in the company, valued at $2,119,775.64. This trade represents a 13.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,000 shares of company stock valued at $4,575,800 in the last three months. Corporate insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.7%

Shares of McCormick & Company, Incorporated stock opened at $50.88 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 52-week low of $47.52 and a 52-week high of $78.16. The company has a market capitalization of $13.67 billion, a P/E ratio of 8.34, a P/E/G ratio of 2.48 and a beta of 0.71. The company has a 50 day moving average of $56.64 and a 200 day moving average of $63.02.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the firm posted $0.60 EPS. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, research analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were paid a $0.48 dividend. The ex-dividend date was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a yield of 3.8%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 31.48%.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.