PAX Financial Group LLC Boosts Position in McCormick & Company, Incorporated (NYSE:MKC)

PAX Financial Group LLC increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 8.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,982 shares of the company’s stock after acquiring an additional 524 shares during the period. PAX Financial Group LLC’s holdings in McCormick & Company, Incorporated were worth $532,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MKC. Public Sector Pension Investment Board lifted its position in shares of McCormick & Company, Incorporated by 13.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,019 shares of the company’s stock worth $907,000 after purchasing an additional 1,300 shares during the period. Centiva Capital LP purchased a new stake in McCormick & Company, Incorporated in the third quarter worth about $559,000. Janus Henderson Group PLC boosted its position in McCormick & Company, Incorporated by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 311,059 shares of the company’s stock valued at $25,603,000 after acquiring an additional 1,752 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in shares of McCormick & Company, Incorporated by 48.0% during the 3rd quarter. Investment Management Corp of Ontario now owns 8,320 shares of the company’s stock worth $685,000 after acquiring an additional 2,700 shares during the period. Finally, Royal London Asset Management Ltd. raised its position in shares of McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 420,952 shares of the company’s stock worth $34,644,000 after acquiring an additional 3,946 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $76.36 on Friday. The firm has a market cap of $20.48 billion, a P/E ratio of 26.06, a PEG ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month 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 has a 50 day moving average of $79.91 and a 200 day moving average of $78.76.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly 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 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 quarter in the prior year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is presently 61.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MKC shares. Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. JPMorgan Chase & Co. raised their target price on shares of 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 boosted their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, Barclays dropped their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $83.14.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the 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 transaction, the director now owns 247,437 shares of the company’s stock, valued at approximately $20,242,820.97. This represents a 16.81 % 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, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now owns 2,266 shares of the company’s stock, valued at approximately $184,497.72. This represents a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,842 shares of company stock worth $6,478,332 over the last three months. 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.