Yousif Capital Management LLC Cuts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Yousif Capital Management LLC reduced its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,008 shares of the company's stock after selling 5,911 shares during the period. Yousif Capital Management LLC's holdings in McCormick & Company, Incorporated were worth $8,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of MKC. Janney Montgomery Scott LLC purchased a new position in McCormick & Company, Incorporated during the third quarter valued at $20,227,000. Hemenway Trust Co LLC increased its position in McCormick & Company, Incorporated by 71.5% during the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company's stock worth $11,552,000 after purchasing an additional 58,511 shares during the last quarter. Wellington Management Group LLP increased 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 buying an additional 24,881 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in McCormick & Company, Incorporated by 57.6% in the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company's stock valued at $3,298,000 after purchasing an additional 14,652 shares during the period. Finally, Qsemble Capital Management LP acquired a new position in McCormick & Company, Incorporated in the third quarter valued at about $1,104,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total value of $386,700.00. Following the transaction, the director now directly owns 28,217 shares in the company, valued at approximately $2,182,302.78. This represents a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $1.12 during mid-day trading on Friday, hitting $78.43. 1,310,724 shares of the company were exchanged, compared to its average volume of 2,090,431. The firm has a market cap of $21.03 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 3.67 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49. The stock has a 50 day simple moving average of $76.70 and a 200-day simple moving average of $78.35.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.30%. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated's payout ratio is presently 61.43%.

Analysts Set New Price Targets

Several research firms have recently commented on MKC. JPMorgan Chase & Co. raised their price target on 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 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. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price target for the company from $85.00 to $91.00 in a report on Monday, December 9th. Finally, TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price objective for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.