Dempze Nancy E Boosts Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Dempze Nancy E grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 28.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,337 shares of the company's stock after acquiring an additional 5,833 shares during the quarter. McCormick & Company, Incorporated comprises 1.2% of Dempze Nancy E's holdings, making the stock its 29th largest holding. Dempze Nancy E's holdings in McCormick & Company, Incorporated were worth $2,008,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Curio Wealth LLC purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $30,000. Albion Financial Group UT bought a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Twin Tree Management LP purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Lee Danner & Bass Inc. bought a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $38,000. 79.74% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This represents a 16.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated 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 sale, the vice president now owns 2,266 shares of the company's stock, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is currently owned by insiders.

Remove Ads

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MKC. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th. 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 research note on Monday, January 27th. Finally, Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated Stock Performance

NYSE MKC traded down $1.27 on Thursday, reaching $74.63. 831,376 shares of the stock were exchanged, compared to its average volume of 2,335,796. The firm has a market capitalization of $20.02 billion, a PE ratio of 25.47, a PEG ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The company's 50-day simple moving average is $79.60 and its two-hundred day simple moving average is $78.43. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) 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). The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 earnings per share. Analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

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.