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

Bayesian Capital Management LP bought a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 22,200 shares of the company's stock, valued at approximately $1,693,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Savvy Advisors Inc. purchased a new position in McCormick & Company, Incorporated in the fourth quarter worth approximately $466,000. Somerville Kurt F increased its holdings in McCormick & Company, Incorporated by 34.2% in the fourth quarter. Somerville Kurt F now owns 96,074 shares of the company's stock valued at $7,325,000 after buying an additional 24,467 shares during the last quarter. DJE Kapital AG acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $4,228,000. SBI Securities Co. Ltd. acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $234,000. Finally, Asset Management One Co. Ltd. increased its position in shares of McCormick & Company, Incorporated by 16.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company's stock worth $10,547,000 after purchasing an additional 19,491 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction 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 sale, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This trade represents a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated 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 completion of the transaction, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. The trade was a 54.82 % 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.

Wall Street Analyst Weigh In

Several research firms have recently commented on MKC. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays decreased 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. JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded up $0.24 during trading on Wednesday, hitting $74.97. The stock had a trading volume of 1,606,385 shares, compared to its average volume of 1,963,828. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The firm has a market cap of $20.11 billion, a P/E ratio of 25.59, a PEG ratio of 3.76 and a beta of 0.74. The business has a fifty day moving average of $78.32 and a two-hundred day moving average of $77.63. 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 (NYSE:MKC - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. McCormick & Company, Incorporated's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. On average, sell-side 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. Investors of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 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.