Frederick Financial Consultants LLC Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Frederick Financial Consultants LLC purchased a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,663 shares of the company's stock, valued at approximately $660,000.

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

Insider Activity at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction 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 $20,242,820.97. This represents a 16.81 % decrease in their ownership of the stock. 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. 23.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MKC shares. Barclays decreased their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased 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 price objective 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $75.29 on Friday. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The stock has a 50-day moving average of $79.37 and a 200 day moving average of $78.15. 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 company has a market capitalization of $20.19 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its 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). The company 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% on a year-over-year basis. During the same period last year, the firm posted $0.63 EPS. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.39%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 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.

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