ExodusPoint Capital Management LP Sells 130,391 Shares of McCormick & Company, Incorporated (NYSE:MKC)

ExodusPoint Capital Management LP lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 739,874 shares of the company's stock after selling 130,391 shares during the period. McCormick & Company, Incorporated accounts for about 0.4% of ExodusPoint Capital Management LP's portfolio, making the stock its 28th biggest position. ExodusPoint Capital Management LP owned about 0.28% of McCormick & Company, Incorporated worth $56,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth $30,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Twin Tree Management LP acquired a new stake in shares of 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 4th quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $38,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Up 0.8 %

Shares of MKC traded up $0.62 during trading hours on Tuesday, reaching $74.54. 920,914 shares of the stock traded hands, compared to its average volume of 1,917,271. 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 company has a market cap of $19.99 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 3.76 and a beta of 0.75. The stock has a fifty day simple moving average of $79.84 and a 200 day simple moving average of $78.62. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24.

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McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. On average, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.41%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.86%.

Analyst Ratings Changes

A number of research firms have recently commented on MKC. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays dropped their price target on 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. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted 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 report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $83.14.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the sale, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock valued at $6,478,332 in the last 90 days. Insiders own 23.80% of the company's stock.

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.