McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 11.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 371,047 shares of the company’s stock after acquiring an additional 38,528 shares during the quarter. McCormick & Company, Incorporated accounts for about 1.5% of Reynders McVeigh Capital Management LLC’s holdings, making the stock its 22nd biggest position. Reynders McVeigh Capital Management LLC owned about 0.14% of McCormick & Company, Incorporated worth $28,289,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in MKC. Savvy Advisors Inc. purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $466,000. Summit Investment Advisors Inc. increased its stake in shares of McCormick & Company, Incorporated by 0.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 43,011 shares of the company’s stock worth $3,279,000 after purchasing an additional 328 shares in the last quarter. Townsquare Capital LLC raised its position in shares of McCormick & Company, Incorporated by 1.7% during the 4th quarter. Townsquare Capital LLC now owns 78,814 shares of the company’s stock worth $6,009,000 after purchasing an additional 1,298 shares during the last quarter. Sterling Capital Management LLC lifted its stake in McCormick & Company, Incorporated by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 14,931 shares of the company’s stock valued at $1,138,000 after buying an additional 5,326 shares in the last quarter. Finally, F M Investments LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter valued at approximately $1,825,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MKC. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays cut their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. lifted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.14.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the sale, the director now owns 247,437 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory Repas sold 2,750 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,842 shares of company stock valued at $6,478,332. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.4 %

MKC stock opened at $75.84 on Friday. The business has a fifty day simple moving average of $79.53 and a 200-day simple moving average of $78.32. The company has a market cap of $20.34 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 3.76 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its 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). The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. On average, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.37%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

About McCormick & Company, Incorporated

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.