MGO One Seven LLC Acquires 461 Shares of McCormick & Company, Incorporated (NYSE:MKC)

MGO One Seven LLC raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.2% during the fourth quarter, Holdings Channel reports. The fund owned 6,116 shares of the company’s stock after buying an additional 461 shares during the period. MGO One Seven LLC’s holdings in McCormick & Company, Incorporated were worth $466,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MKC. Wilmington Savings Fund Society FSB grew its position in McCormick & Company, Incorporated by 10.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 93,400 shares of the company’s stock valued at $7,687,000 after acquiring an additional 8,671 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in shares of McCormick & Company, Incorporated by 0.8% during the third quarter. Peapack Gladstone Financial Corp now owns 76,831 shares of the company’s stock valued at $6,324,000 after purchasing an additional 632 shares during the period. Principal Financial Group Inc. boosted its stake in shares of McCormick & Company, Incorporated by 8.9% during the third quarter. Principal Financial Group Inc. now owns 308,903 shares of the company’s stock valued at $25,423,000 after purchasing an additional 25,278 shares during the period. Everence Capital Management Inc. boosted its stake in shares of McCormick & Company, Incorporated by 73.9% during the fourth quarter. Everence Capital Management Inc. now owns 10,590 shares of the company’s stock valued at $807,000 after purchasing an additional 4,500 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of McCormick & Company, Incorporated by 10.0% during the fourth quarter. Nordea Investment Management AB now owns 21,507 shares of the company’s stock valued at $1,641,000 after purchasing an additional 1,955 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MKC. JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, Barclays dropped their price objective on 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $83.14.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $74.56 on Monday. The stock has a fifty day moving average of $79.18 and a 200 day moving average of $77.88. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The firm has a market capitalization of $20.00 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 3.76 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly 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 return on equity of 14.89% and a net margin of 11.73%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the business earned $0.63 EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction dated 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 completion of the transaction, the director now directly owns 247,437 shares of the company’s stock, valued at approximately $20,242,820.97. This represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated 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.