Savvy Advisors Inc. Acquires New Stake in McCormick & Company, Incorporated (NYSE:MKC)

Savvy Advisors Inc. bought a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,115 shares of the company's stock, valued at approximately $466,000.

Several other large investors have also modified their holdings of the stock. Curio Wealth LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth about $30,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Twin Tree Management LP purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at approximately $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 purchased a new stake in McCormick & Company, Incorporated during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Analysts Set New Price Targets

MKC has been the subject of a number of research analyst reports. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price target for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Barclays lowered 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. JPMorgan Chase & Co. upped their price objective 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. Finally, Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $83.14.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, 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 transaction of $4,090,500.00. Following the completion of the transaction, the director now owns 247,437 shares in the company, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the transaction, the vice president now directly owns 2,266 shares of the company's stock, valued at approximately $184,497.72. The trade was a 54.82 % decrease in their position. 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 quarter. Insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Trading Up 2.4 %

MKC stock traded up $1.75 during midday trading on Friday, reaching $75.29. 2,652,839 shares of the company's stock traded hands, compared to its average volume of 1,959,102. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The business has a 50-day moving average price of $79.37 and a two-hundred day moving average price of $78.15. The company has a market capitalization of $20.19 billion, a P/E ratio of 25.69, a PEG ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion for 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 business's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm 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 $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) 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.