ExodusPoint Capital Management LP Trims Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

ExodusPoint Capital Management LP lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 739,874 shares of the company’s stock after selling 130,391 shares during the quarter. McCormick & Company, Incorporated makes up approximately 0.4% of ExodusPoint Capital Management LP’s holdings, making the stock its 28th largest holding. ExodusPoint Capital Management LP owned 0.28% of McCormick & Company, Incorporated worth $56,408,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its holdings in shares of McCormick & Company, Incorporated by 13.4% during the third quarter. Public Sector Pension Investment Board now owns 11,019 shares of the company’s stock worth $907,000 after buying an additional 1,300 shares in the last quarter. Paloma Partners Management Co purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth approximately $418,000. Ascent Group LLC grew its stake in McCormick & Company, Incorporated by 23.8% in the 3rd quarter. Ascent Group LLC now owns 5,192 shares of the company’s stock worth $427,000 after acquiring an additional 998 shares during the period. Centiva Capital LP purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $559,000. Finally, Holocene Advisors LP lifted its stake in shares of McCormick & Company, Incorporated by 475.2% during the 3rd quarter. Holocene Advisors LP now owns 182,698 shares of the company’s stock worth $15,036,000 after purchasing an additional 150,938 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $81.34 on Thursday. The firm has a 50-day moving average of $79.76 and a two-hundred day moving average of $78.81. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock has a market cap of $21.81 billion, a P/E ratio of 27.76, a PEG ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the company posted $0.63 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Analysts Set New Price Targets

A number of analysts have issued reports on MKC shares. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. Barclays cut their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Finally, Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $83.14.

Insider Buying and Selling

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the transaction, the director now owns 247,437 shares of the company’s stock, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Company Profile

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.