F M Investments LLC Makes New $1.83 Million Investment in McCormick & Company, Incorporated (NYSE:MKC)

F M Investments LLC bought a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,939 shares of the company's stock, valued at approximately $1,825,000.

Several other institutional investors have also recently added to or reduced their stakes in MKC. Wellington Management Group LLP lifted its stake in McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company's stock valued at $11,500,000 after acquiring an additional 24,881 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth approximately $502,000. EP Wealth Advisors LLC grew its position in shares of McCormick & Company, Incorporated by 14.6% in the third quarter. EP Wealth Advisors LLC now owns 5,631 shares of the company's stock valued at $463,000 after purchasing an additional 716 shares in the last quarter. Vestcor Inc increased its position in shares of McCormick & Company, Incorporated by 25.9% during the third quarter. Vestcor Inc now owns 5,043 shares of the company's stock valued at $415,000 after buying an additional 1,036 shares during the period. Finally, Geode Capital Management LLC lifted its stake in McCormick & Company, Incorporated by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,886,987 shares of the company's stock worth $482,823,000 after purchasing an additional 54,018 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MKC has been the subject of several research analyst reports. Barclays dropped their target price on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock 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 research report on Thursday, March 27th. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average target price of $83.14.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated 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 sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The transaction 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 dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,842 shares of company stock worth $6,478,332. Company insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded up $1.64 during midday trading on Thursday, hitting $75.18. 1,103,696 shares of the company traded hands, compared to its average volume of 1,949,982. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The stock has a market cap of $20.16 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The firm has a 50 day moving average of $79.40 and a 200-day moving average of $78.20.

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 analysts' consensus estimates of $0.64 by ($0.04). The firm 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 business's revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. On average, analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is presently 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.