Two Sigma Investments LP Takes $1.52 Million Position in McCormick & Company, Incorporated (NYSE:MKC)

Two Sigma Investments LP purchased a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,908 shares of the company's stock, valued at approximately $1,518,000.

Several other institutional investors have also added to or reduced their stakes in the business. Curio Wealth LLC purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $30,000. Twin Tree Management LP purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Lee Danner & Bass Inc. purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $37,000. Parvin Asset Management LLC purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at approximately $38,000. Finally, Colonial Trust Co SC raised its position in McCormick & Company, Incorporated by 69.0% during the fourth quarter. Colonial Trust Co SC now owns 566 shares of the company's stock valued at $43,000 after acquiring an additional 231 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 dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now owns 247,437 shares of the company's stock, valued at $20,242,820.97. This trade represents a 16.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,392 shares of company stock worth $4,898,101. 23.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $83.14.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded up $1.31 on Friday, reaching $74.22. The company's stock had a trading volume of 2,248,803 shares, compared to its average volume of 2,036,045. The company has a market capitalization of $19.90 billion, a P/E ratio of 25.33, a PEG ratio of 3.76 and a beta of 0.68. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The stock has a 50-day moving average price of $74.70 and a 200-day moving average price of $77.07. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. Analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders 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 dividend yield of 2.43%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio 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.