Sei Investments Co. Buys 24,786 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Sei Investments Co. boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 161,478 shares of the company's stock after acquiring an additional 24,786 shares during the period. Sei Investments Co. owned 0.06% of McCormick & Company, Incorporated worth $12,311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MKC. International Private Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 136 shares during the period. Empower Advisory Group LLC raised its holdings in McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock valued at $641,000 after acquiring an additional 138 shares during the period. Hunter Associates Investment Management LLC raised its holdings in McCormick & Company, Incorporated by 1.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company's stock valued at $954,000 after acquiring an additional 153 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of 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 valued at $755,000 after purchasing an additional 154 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 3.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,595 shares of the company's stock worth $427,000 after purchasing an additional 169 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

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Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now directly owns 6,177 shares in the company, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded down $0.73 during trading hours on Wednesday, hitting $81.52. 773,194 shares of the stock were exchanged, compared to its average volume of 2,201,275. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The company has a market cap of $21.86 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. 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's fifty day simple moving average is $79.59 and its two-hundred day simple moving average is $78.79.

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 the consensus estimate of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.21%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's payout ratio is 61.86%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. raised their price target on shares of 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 dropped 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 note on Monday, January 27th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $83.75.

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.