New Age Alpha Advisors LLC Takes $2.93 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

New Age Alpha Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 38,453 shares of the company's stock, valued at approximately $2,932,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $223,202,000. State Street Corp grew its holdings in shares of McCormick & Company, Incorporated by 7.8% in the third quarter. State Street Corp now owns 15,315,905 shares of the company's stock worth $1,260,499,000 after purchasing an additional 1,114,706 shares during the last quarter. Point72 Asset Management L.P. boosted its position in McCormick & Company, Incorporated by 58.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,544,531 shares of the company's stock valued at $127,115,000 after buying an additional 568,276 shares during the period. Benjamin Edwards Inc. increased its position in shares of McCormick & Company, Incorporated by 2,778.8% during the third quarter. Benjamin Edwards Inc. now owns 456,920 shares of the company's stock worth $37,606,000 after acquiring an additional 441,048 shares during the period. Finally, Amundi boosted its holdings in shares of McCormick & Company, Incorporated by 37.5% in the fourth quarter. Amundi now owns 1,372,446 shares of the company's stock valued at $102,275,000 after purchasing an additional 374,559 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm's 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 transaction, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction 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 sale, the director now directly owns 247,437 shares of the company's stock, valued at $20,242,820.97. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 23.80% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on MKC. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. Barclays decreased 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 report on Monday, January 27th. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given 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 an average target price of $83.14.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $0.95 during trading on Thursday, hitting $82.24. 1,417,028 shares of the stock traded hands, compared to its average volume of 1,889,821. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average price of $79.76 and a two-hundred day moving average price of $78.81. The company has a market cap of $22.05 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the business earned $0.63 EPS. The company's quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders 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 annualized dividend and a dividend yield of 2.19%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.86%.

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.