Groupama Asset Managment Buys 15,598 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Groupama Asset Managment raised its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 92.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,479 shares of the company's stock after acquiring an additional 15,598 shares during the period. Groupama Asset Managment's holdings in McCormick & Company, Incorporated were worth $2,451,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. International Private Wealth Advisors LLC boosted its stake in McCormick & Company, Incorporated by 3.9% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company's stock valued at $276,000 after acquiring an additional 136 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of McCormick & Company, Incorporated by 2.8% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock worth $382,000 after purchasing an additional 137 shares during the period. Empower Advisory Group LLC lifted its stake in McCormick & Company, Incorporated by 1.7% in the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock valued at $641,000 after purchasing an additional 138 shares during the last quarter. Hunter Associates Investment Management LLC grew its holdings in McCormick & Company, Incorporated by 1.2% during the fourth quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company's stock valued at $954,000 after purchasing an additional 153 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position in McCormick & Company, Incorporated by 1.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 9,906 shares of the company's stock worth $755,000 after buying an additional 154 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the transaction, the director now owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction 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 transaction, the director now 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. 23.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research reports. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research report on Friday, January 24th. Barclays reduced their price target on 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. Finally, Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock traded down $0.60 on Thursday, reaching $80.69. The company's stock had a trading volume of 4,776,239 shares, compared to its average volume of 1,902,414. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The stock's 50 day simple moving average is $79.88 and its 200-day simple moving average is $78.82. 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 has a market capitalization of $21.64 billion, a P/E ratio of 27.54, a PEG ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business's revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business 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 $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.23%. McCormick & Company, Incorporated's dividend payout ratio (DPR) 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.