Bryce Point Capital LLC Invests $551,000 in McCormick & Company, Incorporated (NYSE:MKC)

Bryce Point Capital LLC acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,230 shares of the company's stock, valued at approximately $551,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $223,202,000. State Street Corp boosted its stake in McCormick & Company, Incorporated by 7.8% during the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock worth $1,260,499,000 after buying an additional 1,114,706 shares during the period. Point72 Asset Management L.P. increased its position in shares of McCormick & Company, Incorporated by 58.2% during the third quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock valued at $127,115,000 after acquiring an additional 568,276 shares during the last quarter. Amundi raised its stake in shares of McCormick & Company, Incorporated by 37.5% in the 4th quarter. Amundi now owns 1,372,446 shares of the company's stock valued at $102,275,000 after acquiring an additional 374,559 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in shares of McCormick & Company, Incorporated by 9,283.1% in the 4th quarter. Teacher Retirement System of Texas now owns 367,253 shares of the company's stock worth $27,999,000 after acquiring an additional 363,339 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

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McCormick & Company, Incorporated Stock Up 1.2 %

NYSE:MKC traded up $0.89 during mid-day trading on Tuesday, hitting $74.81. The stock had a trading volume of 824,048 shares, compared to its average volume of 1,916,871. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. The stock has a 50-day simple moving average of $79.84 and a two-hundred day simple moving average of $78.62. The company has a market capitalization of $20.06 billion, a PE ratio of 25.57, a PEG ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly 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 return on equity of 14.89% and a net margin of 11.73%. The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same period last year, the firm earned $0.63 earnings per share. The firm's quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts anticipate 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 will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.41%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Insiders Place Their Bets

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the business's 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 sale, the director now directly owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now owns 2,266 shares in the company, valued at $184,497.72. This represents a 54.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on MKC shares. Barclays cut their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. TD Cowen upgraded shares of 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 note on Wednesday, January 8th. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $83.14.

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.