McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 25.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,988 shares of the company’s stock after acquiring an additional 12,937 shares during the quarter. Quantinno Capital Management LP’s holdings in McCormick & Company, Incorporated were worth $4,878,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Curio Wealth LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $30,000. Albion Financial Group UT purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Twin Tree Management LP purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Lee Danner & Bass Inc. purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $37,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $38,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McCormick & Company, Incorporated

In other news, 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 transaction of $4,090,500.00. Following the completion of the transaction, the director now directly 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 SEC, which is accessible 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 sale, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. The trade was a 54.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,392 shares of company stock worth $4,898,101. Company insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays lowered their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company 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. Finally, JPMorgan Chase & Co. boosted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.14.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $75.50 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average of $77.24 and a two-hundred day moving average of $77.48. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The company has a market cap of $20.25 billion, a P/E ratio of 25.77, a PEG ratio of 3.76 and a beta of 0.74.

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). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business’s revenue was up .2% on a year-over-year basis. As a group, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.38%. McCormick & Company, Incorporated’s dividend 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.