Forum Financial Management LP Makes New $315,000 Investment in McCormick & Company, Incorporated (NYSE:MKC)

Forum Financial Management LP purchased a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,130 shares of the company's stock, valued at approximately $315,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Curio Wealth LLC purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth $30,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at $33,000. Twin Tree Management LP acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter worth $33,000. Lee Danner & Bass Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton bought a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Down 0.6 %

Shares of MKC stock traded down $0.45 during mid-day trading on Friday, reaching $74.56. 1,256,059 shares of the company's stock traded hands, compared to its average volume of 1,959,944. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company's 50-day moving average price is $79.18 and its 200-day moving average price is $77.90. The company has a market cap of $20.00 billion, a P/E ratio of 25.45, a P/E/G ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 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 company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The business's revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares of the company's stock, valued at $20,242,820.97. This trade represents a 16.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Margaret M. V. Preston sold 28,092 shares of the business's 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 directly owns 6,177 shares of the company's stock, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,842 shares of company stock worth $6,478,332. 23.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MKC shares. Barclays cut their price objective on shares of 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. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their price target 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 issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price 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.