Somerville Kurt F Has $7.33 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Somerville Kurt F lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 34.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,074 shares of the company's stock after acquiring an additional 24,467 shares during the period. McCormick & Company, Incorporated comprises approximately 1.2% of Somerville Kurt F's holdings, making the stock its 28th largest holding. Somerville Kurt F's holdings in McCormick & Company, Incorporated were worth $7,325,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MKC. Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $30,000. Albion Financial Group UT bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Twin Tree Management LP acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $33,000. Lee Danner & Bass Inc. bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth about $37,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $38,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock traded down $1.88 during mid-day trading on Tuesday, hitting $72.05. 2,651,936 shares of the stock traded hands, compared to its average volume of 1,927,395. 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 quick ratio of 0.31 and a current ratio of 0.74. The company's 50-day simple moving average is $79.84 and its 200-day simple moving average is $78.62. The firm has a market cap of $19.32 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75.

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McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released 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 return on equity of 14.89% and a net margin of 11.73%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. McCormick & Company, Incorporated's revenue was up .2% on a year-over-year basis. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.45 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.50%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.86%.

Wall Street Analyst Weigh In

Several research firms have commented on MKC. Barclays decreased their target price 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. JPMorgan Chase & Co. increased their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Jefferies Financial Group raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their price target for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and a consensus target price of $83.14.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold a total of 80,842 shares of company stock valued at $6,478,332 over the last three months. Insiders own 23.80% of the company's stock.

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.