McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Fenimore Asset Management Inc

Fenimore Asset Management Inc grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 751,723 shares of the company's stock after purchasing an additional 3,407 shares during the period. Fenimore Asset Management Inc owned approximately 0.28% of McCormick & Company, Incorporated worth $61,874,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Separately, Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $83.14.

McCormick & Company, Incorporated Trading Up 1.3%

Shares of NYSE:MKC traded up $0.97 on Monday, hitting $75.20. 2,272,880 shares of the company's stock were exchanged, compared to its average volume of 2,310,540. The business's 50 day simple moving average is $74.70 and its two-hundred day simple moving average is $77.06. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock has a market capitalization of $20.17 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 3.76 and a beta of 0.68. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued 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 business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.39%. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the company's 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, April 3rd. The shares were 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 owns 2,266 shares of the company's stock, valued at approximately $184,497.72. This represents a 54.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,392 shares of company stock worth $4,898,101. Company 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.