Bayesian Capital Management LP Acquires New Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Bayesian Capital Management LP acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 22,200 shares of the company's stock, valued at approximately $1,693,000.

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

Analyst Ratings Changes

A number of research firms have recently commented on MKC. Barclays dropped their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $83.14.

Insider Activity

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the company's 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 owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This represents a 16.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. This represents a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,842 shares of company stock valued at $6,478,332 in the last 90 days. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Trading Down 0.2 %

Shares of MKC stock traded down $0.12 on Friday, reaching $76.10. 1,490,324 shares of the stock were exchanged, compared to its average volume of 1,974,140. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The stock has a market cap of $20.41 billion, a PE ratio of 25.97, a P/E/G ratio of 3.76 and a beta of 0.74. The stock has a 50 day moving average price of $78.03 and a 200 day moving average price of $77.59.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share 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 the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's payout ratio is 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.