Landscape Capital Management L.L.C. Raises Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Landscape Capital Management L.L.C. increased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 454.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,601 shares of the company's stock after purchasing an additional 52,127 shares during the period. McCormick & Company, Incorporated makes up about 0.5% of Landscape Capital Management L.L.C.'s holdings, making the stock its 25th biggest position. Landscape Capital Management L.L.C.'s holdings in McCormick & Company, Incorporated were worth $4,849,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company's stock worth $2,419,653,000 after purchasing an additional 303,973 shares in the last quarter. State Street Corp grew its holdings in shares of McCormick & Company, Incorporated by 7.8% during the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock valued at $1,260,499,000 after buying an additional 1,114,706 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company's stock valued at $458,114,000 after buying an additional 137,679 shares during the last quarter. Norges Bank bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $223,202,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in McCormick & Company, Incorporated by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company's stock valued at $115,081,000 after purchasing an additional 46,411 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares of the company's stock, valued at approximately $184,497.72. This represents a 54.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's 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 owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 Price Performance

Shares of NYSE MKC traded down $2.34 during midday trading on Tuesday, hitting $71.58. 1,952,769 shares of the company's stock were exchanged, compared to its average volume of 2,310,406. 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 business's fifty day moving average price is $79.84 and its two-hundred day moving average price is $78.62. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 24.43, a PEG 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 previous year, the company earned $0.63 EPS. McCormick & Company, Incorporated's quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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 given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated's payout ratio is 61.86%.

Wall Street Analysts Forecast Growth

MKC has been the topic of a number of recent research reports. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Barclays reduced their price objective 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. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their target price for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $83.14.

McCormick & Company, Incorporated Company 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.