Rafferty Asset Management LLC Buys 2,438 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Rafferty Asset Management LLC grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 12.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,890 shares of the company’s stock after acquiring an additional 2,438 shares during the period. Rafferty Asset Management LLC’s holdings in McCormick & Company, Incorporated were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MKC. International Private Wealth Advisors LLC boosted its stake in McCormick & Company, Incorporated by 3.9% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after acquiring an additional 136 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in McCormick & Company, Incorporated by 2.8% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company’s stock valued at $382,000 after acquiring an additional 137 shares during the last quarter. Empower Advisory Group LLC boosted its stake in McCormick & Company, Incorporated by 1.7% in the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock valued at $641,000 after acquiring an additional 138 shares during the last quarter. Bessemer Group Inc. boosted its stake in McCormick & Company, Incorporated by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company’s stock valued at $3,278,000 after acquiring an additional 139 shares during the last quarter. Finally, Hunter Associates Investment Management LLC boosted its stake in McCormick & Company, Incorporated by 1.2% in the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after acquiring an additional 153 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Trading Down 0.4%

Shares of NYSE MKC opened at $74.13 on Wednesday. The company’s fifty day moving average is $76.96 and its 200-day moving average is $77.43. The stock has a market cap of $19.88 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 3.76 and a beta of 0.74. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. 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 (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. Equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business 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 annualized dividend and a yield of 2.43%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of recent research reports. Barclays reduced 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 research note on Monday, January 27th. JPMorgan Chase & Co. lifted 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. Finally, Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $83.14.

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.