Advanced Portfolio Management LLC Buys New Shares in McCormick & Company, Incorporated (NYSE:MKC)

Advanced Portfolio Management LLC purchased a new position in McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 17,193 shares of the company’s stock, valued at approximately $1,328,000. McCormick & Company, Incorporated accounts for 1.6% of Advanced Portfolio Management LLC’s holdings, making the stock its 20th largest holding.

Several other institutional investors have also recently made changes to their positions in the stock. DoubleLine ETF Adviser LP increased its position in McCormick & Company, Incorporated by 2.8% in the 4th quarter. DoubleLine ETF Adviser LP now owns 14,113 shares of the company’s stock valued at $1,076,000 after buying an additional 380 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $38,000. Lido Advisors LLC increased its holdings in shares of McCormick & Company, Incorporated by 3.6% during the fourth quarter. Lido Advisors LLC now owns 17,707 shares of the company’s stock valued at $1,358,000 after acquiring an additional 622 shares in the last quarter. Northern Trust Corp raised its position in shares of McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock worth $281,573,000 after purchasing an additional 531,060 shares during the period. Finally, Bellwether Advisors LLC grew its position in McCormick & Company, Incorporated by 17.6% in the 4th quarter. Bellwether Advisors LLC now owns 22,247 shares of the company’s stock valued at $1,696,000 after purchasing an additional 3,328 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $76.02 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The company’s 50-day moving average is $78.71 and its 200 day moving average is $77.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The company has a market capitalization of $20.39 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a $0.45 dividend. The ex-dividend date of this dividend was 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 (DPR) is presently 61.86%.

Analysts Set New Price Targets

MKC has been the topic of several research reports. Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $83.14.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s 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 transaction, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 of the company’s stock, valued at $20,242,820.97. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,842 shares of company stock valued at $6,478,332. Company insiders own 23.80% of the company’s stock.

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.