McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Focus Financial Network Inc.

Focus Financial Network Inc. lifted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 8.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 6,226 shares of the company’s stock after purchasing an additional 505 shares during the period. Focus Financial Network Inc.’s holdings in McCormick & Company, Incorporated were worth $512,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. USA Financial Formulas grew its position in McCormick & Company, Incorporated by 42.6% in the first quarter. USA Financial Formulas now owns 2,718 shares of the company’s stock worth $224,000 after acquiring an additional 812 shares during the period. CX Institutional purchased a new position in shares of McCormick & Company, Incorporated during the first quarter worth $275,000. Moseley Investment Management Inc. boosted its position in shares of McCormick & Company, Incorporated by 1.6% during the first quarter. Moseley Investment Management Inc. now owns 17,925 shares of the company’s stock worth $1,475,000 after buying an additional 280 shares during the period. SG Americas Securities LLC boosted its holdings in McCormick & Company, Incorporated by 204.2% in the first quarter. SG Americas Securities LLC now owns 27,592 shares of the company’s stock valued at $2,271,000 after purchasing an additional 18,521 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in McCormick & Company, Incorporated by 3.2% in the first quarter. Yousif Capital Management LLC now owns 120,791 shares of the company’s stock valued at $9,942,000 after purchasing an additional 3,783 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 2.5%

MKC opened at $73.93 on Friday. The business’s 50-day simple moving average is $74.53 and its 200-day simple moving average is $76.99. 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 has a one year low of $66.88 and a one year high of $86.24. The stock has a market capitalization of $19.83 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 3.76 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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 firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

Analysts Set New Price Targets

Separately, Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.50.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the company’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 sale, the vice president now owns 2,266 shares of the company’s stock, valued at approximately $184,497.72. This represents a 54.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. In the last 90 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.

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.