Leonteq Securities AG Invests $968,000 in McCormick & Company, Incorporated $MKC

Leonteq Securities AG bought a new position in McCormick & Company, Incorporated (NYSE:MKC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,212 shares of the company’s stock, valued at approximately $968,000.

Several other large investors have also recently modified their holdings of MKC. WINTON GROUP Ltd boosted its position in shares of McCormick & Company, Incorporated by 76.9% in the third quarter. WINTON GROUP Ltd now owns 37,500 shares of the company’s stock valued at $2,509,000 after acquiring an additional 16,300 shares during the period. Nuance Investments LLC bought a new position in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $15,388,000. Envestnet Asset Management Inc. boosted its position in shares of McCormick & Company, Incorporated by 3.5% in the third quarter. Envestnet Asset Management Inc. now owns 878,886 shares of the company’s stock valued at $58,806,000 after acquiring an additional 29,418 shares during the period. Cibc World Market Inc. bought a new position in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $3,819,000. Finally, Strengthening Families & Communities LLC boosted its position in shares of McCormick & Company, Incorporated by 3,178.6% in the third quarter. Strengthening Families & Communities LLC now owns 33,048 shares of the company’s stock valued at $2,211,000 after acquiring an additional 32,040 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling

In other news, Director Gavin Hattersley purchased 2,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was bought at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the acquisition, the director directly owned 2,906 shares of the company’s stock, valued at $153,959.88. This represents a 220.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.60% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Trading Up 0.6%

Shares of MKC opened at $46.99 on Friday. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 2.29 and a beta of 0.68. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $78.16. The firm has a 50 day moving average price of $51.34 and a 200-day moving average price of $61.23.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the business posted $0.60 EPS. The firm’s revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts forecast that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio is currently 31.48%.

Wall Street Analyst Weigh In

MKC has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Zacks Research upgraded shares of McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. BTIG Research initiated coverage on shares of McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They issued a “neutral” rating for the company. Sanford C. Bernstein cut their price objective on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. Finally, HSBC cut their price objective on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $64.27.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.