Trexquant Investment LP Decreases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Trexquant Investment LP trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 84.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,971 shares of the company’s stock after selling 191,208 shares during the quarter. Trexquant Investment LP’s holdings in McCormick & Company, Incorporated were worth $2,666,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in MKC. International Private Wealth Advisors LLC boosted its stake in McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock worth $276,000 after purchasing an additional 136 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in McCormick & Company, Incorporated by 2.8% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company’s stock worth $382,000 after acquiring an additional 137 shares during the last quarter. Empower Advisory Group LLC boosted its position in McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after acquiring an additional 138 shares during the last quarter. Hunter Associates Investment Management LLC grew its stake in McCormick & Company, Incorporated by 1.2% during the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock valued at $954,000 after acquiring an additional 153 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 1.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company’s stock worth $755,000 after purchasing an additional 154 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $73.87 on Tuesday. The company’s 50 day simple moving average is $79.84 and its 200-day simple moving average is $78.62. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The company has a market capitalization of $19.81 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75.

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 analysts’ consensus estimates 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 firm 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 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, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors 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 yield of 2.44%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.86%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price target for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.14.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business’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 of the company’s stock, valued at $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. Insiders sold a total of 80,842 shares of company stock valued at $6,478,332 in the last three months. 23.80% of the stock is owned by corporate insiders.

About McCormick & Company, Incorporated

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.