Point72 Hong Kong Ltd Has $5.07 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Point72 Hong Kong Ltd trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 60.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 66,498 shares of the company’s stock after selling 103,539 shares during the period. Point72 Hong Kong Ltd’s holdings in McCormick & Company, Incorporated were worth $5,070,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MKC. Curio Wealth LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $30,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Lee Danner & Bass Inc. acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $37,000. Finally, Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $38,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on MKC. Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report 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 report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of 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 issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.14.

McCormick & Company, Incorporated Stock Down 1.5%

NYSE MKC opened at $73.65 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The firm has a 50-day simple moving average of $77.58 and a 200 day simple moving average of $77.53. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The stock has a market cap of $19.75 billion, a PE ratio of 25.14, a PEG ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is presently 61.86%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares in the company, valued at $184,497.72. This trade represents a 54.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Katherine Jenkins sold 7,642 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,392 shares of company stock worth $4,898,101. Company insiders own 23.80% of the company’s stock.

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.