McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 371,047 shares of the company's stock after buying an additional 38,528 shares during the quarter. McCormick & Company, Incorporated comprises approximately 1.5% of Reynders McVeigh Capital Management LLC's portfolio, making the stock its 22nd largest position. Reynders McVeigh Capital Management LLC owned about 0.14% of McCormick & Company, Incorporated worth $28,289,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MKC. Wellington Management Group LLP grew its holdings in shares of McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company's stock worth $11,500,000 after purchasing an additional 24,881 shares during the period. Vestcor Inc boosted its stake in McCormick & Company, Incorporated by 25.9% during the third quarter. Vestcor Inc now owns 5,043 shares of the company's stock worth $415,000 after buying an additional 1,036 shares during the period. Toronto Dominion Bank boosted its stake in McCormick & Company, Incorporated by 8.4% during the third quarter. Toronto Dominion Bank now owns 137,301 shares of the company's stock worth $11,300,000 after buying an additional 10,605 shares during the period. Sunbelt Securities Inc. increased its position in shares of McCormick & Company, Incorporated by 35.1% during the third quarter. Sunbelt Securities Inc. now owns 873 shares of the company's stock valued at $72,000 after acquiring an additional 227 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of McCormick & Company, Incorporated by 10.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 93,400 shares of the company's stock valued at $7,687,000 after acquiring an additional 8,671 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, VP Gregory Repas sold 2,750 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares in the company, valued at $184,497.72. This represents a 54.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the transaction, the director now owns 247,437 shares in the company, valued at $20,242,820.97. This trade 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 worth $6,478,332 in the last quarter. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Down 3.1 %

Shares of NYSE MKC traded down $2.37 during midday trading on Tuesday, hitting $75.23. 1,639,838 shares of the company's stock were exchanged, compared to its average volume of 1,948,039. The firm's fifty day simple moving average is $79.50 and its 200-day simple moving average is $78.23. The company has a market cap of $20.18 billion, a PE ratio of 25.68, a P/E/G ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month 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.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. Research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.39%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Analyst Ratings Changes

MKC has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th. Barclays cut their price objective on 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. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and an average price target 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.