Savoir Faire Capital Management L.P. Has $3.93 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Savoir Faire Capital Management L.P. grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 34.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,599 shares of the company's stock after buying an additional 13,258 shares during the period. McCormick & Company, Incorporated comprises 1.9% of Savoir Faire Capital Management L.P.'s portfolio, making the stock its 23rd largest position. Savoir Faire Capital Management L.P.'s holdings in McCormick & Company, Incorporated were worth $3,934,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Landscape Capital Management L.L.C. lifted its holdings in McCormick & Company, Incorporated by 454.3% in the fourth quarter. Landscape Capital Management L.L.C. now owns 63,601 shares of the company's stock worth $4,849,000 after acquiring an additional 52,127 shares during the last quarter. PAX Financial Group LLC lifted its holdings in shares of McCormick & Company, Incorporated by 8.1% in the 4th quarter. PAX Financial Group LLC now owns 6,982 shares of the company's stock worth $532,000 after purchasing an additional 524 shares during the last quarter. Motley Fool Asset Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 7.3% in the 4th quarter. Motley Fool Asset Management LLC now owns 3,952 shares of the company's stock worth $301,000 after purchasing an additional 268 shares during the last quarter. Bryce Point Capital LLC acquired a new position in McCormick & Company, Incorporated during the 4th quarter valued at approximately $551,000. Finally, RFG Bristol Wealth Advisors LLC bought a new position in McCormick & Company, Incorporated during the 4th quarter worth $476,000. Institutional investors and hedge funds own 79.74% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have issued reports on MKC. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company 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. Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their target price for the company from $85.00 to $91.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $83.14.

McCormick & Company, Incorporated Price Performance

NYSE:MKC traded down $2.34 during mid-day trading on Tuesday, reaching $71.58. 1,952,769 shares of the stock were exchanged, compared to its average volume of 1,921,989. 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 has a fifty day moving average price of $79.84 and a 200 day moving average price of $78.62. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The firm has a market capitalization of $19.20 billion, a PE ratio of 24.43, a PEG ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the firm earned $0.63 EPS. The business's revenue for the quarter was up .2% on a year-over-year basis. Research analysts expect 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 issued 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%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock valued at $6,478,332 over the last three months. Company insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated 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.