Puzo Michael J Grows Position in McCormick & Company, Incorporated (NYSE:MKC)

Puzo Michael J increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,907 shares of the company's stock after acquiring an additional 9,210 shares during the period. McCormick & Company, Incorporated comprises 1.4% of Puzo Michael J's investment portfolio, making the stock its 29th biggest position. Puzo Michael J's holdings in McCormick & Company, Incorporated were worth $5,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Curio Wealth LLC purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $30,000. Albion Financial Group UT acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Twin Tree Management LP acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Lee Danner & Bass Inc. acquired a new position in McCormick & Company, Incorporated during the 4th quarter worth $37,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth about $38,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded down $2.11 during mid-day trading on Tuesday, reaching $71.81. 1,952,769 shares of the company's stock were exchanged, compared to its average volume of 1,921,989. The business's fifty day simple moving average is $79.84 and its 200-day simple moving average is $78.62. The stock has a market capitalization of $19.26 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

Remove Ads

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 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 analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. On average, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared 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. This represents a $1.80 annualized dividend and a yield of 2.51%. The ex-dividend date is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction dated 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,842 shares of company stock valued at $6,478,332 in the last ninety days. Insiders own 23.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on MKC shares. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note 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 on the stock in a report on Monday, January 27th. JPMorgan Chase & Co. boosted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the company from $85.00 to $91.00 in a 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 given a strong buy rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated has an average rating of "Hold" and a consensus price target of $83.14.

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.