Parkshore Wealth Management Inc. Purchases Shares of 4,400 McCormick & Company, Incorporated (NYSE:MKC)

Parkshore Wealth Management Inc. acquired a new position in McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,400 shares of the company’s stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MKC. Curio Wealth LLC bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $30,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated during the fourth quarter worth $33,000. Twin Tree Management LP bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Lee Danner & Bass Inc. acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity

In other news, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the sale, the vice president now owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction 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 transaction, the director now owns 247,437 shares in the company, valued at approximately $20,242,820.97. This trade represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,842 shares of company stock worth $6,478,332. 23.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays reduced 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. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. lifted 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.14.

McCormick & Company, Incorporated Stock Down 0.6 %

Shares of NYSE MKC opened at $74.56 on Monday. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The business’s 50 day moving average is $79.18 and its two-hundred day moving average is $77.88. The firm has a market cap 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 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). The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. Research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis 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 presently 61.86%.

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.