F M Investments LLC Invests $1.83 Million in McCormick & Company, Incorporated (NYSE:MKC)

F M Investments LLC purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 23,939 shares of the company’s stock, valued at approximately $1,825,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Bessemer Group Inc. grew its stake in shares of McCormick & Company, Incorporated by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company’s stock valued at $3,278,000 after buying an additional 139 shares during the last quarter. APG Asset Management N.V. grew its position in McCormick & Company, Incorporated by 22.7% in the 4th quarter. APG Asset Management N.V. now owns 164,655 shares of the company’s stock valued at $12,123,000 after acquiring an additional 30,418 shares during the last quarter. FIL Ltd increased its stake in McCormick & Company, Incorporated by 9.5% in the fourth quarter. FIL Ltd now owns 1,170,586 shares of the company’s stock worth $89,245,000 after purchasing an additional 101,078 shares during the period. Invesco Ltd. lifted its position in shares of McCormick & Company, Incorporated by 17.6% during the fourth quarter. Invesco Ltd. now owns 2,641,812 shares of the company’s stock worth $201,412,000 after purchasing an additional 396,214 shares during the last quarter. Finally, Certior Financial Group LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at $239,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $75.84 on Friday. The firm has a market cap of $20.34 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week 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. The company’s 50 day moving average is $79.53 and its 200 day moving average is $78.32.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion for 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 firm’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.37%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.86%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Barclays decreased their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.14.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction on 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 transaction, the director now directly owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,842 shares of company stock worth $6,478,332. 23.80% of the stock is owned by corporate insiders.

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.