Alyeska Investment Group L.P. Buys New Position in McCormick & Company, Incorporated (NYSE:MKC)

Alyeska Investment Group L.P. bought a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 107,850 shares of the company's stock, valued at approximately $8,222,000.

A number of other institutional investors also recently made changes to their positions in MKC. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $30,000. Twin Tree Management LP purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth about $33,000. Albion Financial Group UT purchased a new stake in McCormick & Company, Incorporated in the fourth quarter worth about $33,000. Lee Danner & Bass Inc. purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the 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 completion of the sale, the director now directly owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 2,266 shares of the company's stock, valued at $184,497.72. The trade was a 54.82 % 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 ninety days. 23.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MKC. JPMorgan Chase & Co. boosted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Barclays lowered their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. Finally, Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One research 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. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Hold" and an average target price of $83.14.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $75.35 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The company has a market cap of $20.21 billion, a P/E ratio of 25.72, a P/E/G ratio of 3.76 and a beta of 0.75. The business's 50 day moving average price is $78.62 and its 200-day moving average price is $77.67.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported $0.60 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 the consensus estimate of $1.61 billion. During the same period in the prior year, the company posted $0.63 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

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.

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