Balyasny Asset Management L.P. Buys 915,807 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Balyasny Asset Management L.P. lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 47.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,843,273 shares of the company's stock after acquiring an additional 915,807 shares during the period. McCormick & Company, Incorporated makes up 0.3% of Balyasny Asset Management L.P.'s portfolio, making the stock its 24th biggest position. Balyasny Asset Management L.P. owned about 1.06% of McCormick & Company, Incorporated worth $216,771,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Private Wealth Advisors LLC grew its stake in McCormick & Company, Incorporated by 3.9% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company's stock worth $276,000 after purchasing an additional 136 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in shares of McCormick & Company, Incorporated by 2.8% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock valued at $382,000 after purchasing an additional 137 shares during the period. Empower Advisory Group LLC grew its holdings in shares of McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock valued at $641,000 after buying an additional 138 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of McCormick & Company, Incorporated by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock worth $3,278,000 after purchasing an additional 139 shares in the last quarter. Finally, Hunter Associates Investment Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 1.2% during the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company's stock valued at $954,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on MKC shares. Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. upped their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research report on Friday, January 24th. Finally, Barclays dropped 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 note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average target price of $83.14.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded up $0.26 on Friday, reaching $76.48. The company's stock had a trading volume of 668,607 shares, compared to its average volume of 2,238,863. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a market cap of $20.51 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 3.76 and a beta of 0.74. 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 business's fifty day moving average price is $78.15 and its 200 day moving average price is $77.62.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $0.63 EPS. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the transaction, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction 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 completion of the sale, the director now owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,842 shares of company stock valued at $6,478,332. Corporate 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.