Elefante Mark B Buys New Stake in McCormick & Company, Incorporated (NYSE:MKC)

Elefante Mark B purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,195 shares of the company’s stock, valued at approximately $1,463,000. McCormick & Company, Incorporated accounts for approximately 1.3% of Elefante Mark B’s investment portfolio, making the stock its 29th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in MKC. Curio Wealth LLC acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $30,000. Twin Tree Management LP bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $33,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Lee Danner & Bass Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $37,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $38,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now directly 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 ninety days, insiders sold 80,842 shares of company stock valued at $6,478,332. Insiders own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MKC shares. Barclays reduced 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 report on Monday, January 27th. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report 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 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $83.14.

McCormick & Company, Incorporated Stock Up 1.8 %

Shares of NYSE:MKC opened at $76.28 on Friday. The company has a 50 day moving average price of $78.15 and a two-hundred day moving average price of $77.62. The company has a market capitalization of $20.46 billion, a PE ratio of 26.03, a PEG ratio of 3.76 and a beta of 0.74. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 25th. The company reported $0.60 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 company’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.36%. McCormick & Company, Incorporated’s payout ratio is presently 61.86%.

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.