Forum Financial Management LP Invests $315,000 in McCormick & Company, Incorporated (NYSE:MKC)

Forum Financial Management LP acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,130 shares of the company's stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MKC. Norges Bank acquired a new position in McCormick & Company, Incorporated in the 4th quarter valued at $223,202,000. Select Equity Group L.P. bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth $104,863,000. Balyasny Asset Management L.P. raised its position in shares of McCormick & Company, Incorporated by 47.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company's stock valued at $216,771,000 after purchasing an additional 915,807 shares during the period. Northern Trust Corp increased its position in McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after acquiring an additional 531,060 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of McCormick & Company, Incorporated by 88.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company's stock valued at $67,035,000 after purchasing an additional 412,074 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Analyst Ratings Changes

Separately, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. One research 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. Based on data from MarketBeat, McCormick & Company, Incorporated has an average rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated Stock Up 0.1%

MKC traded up $0.09 on Friday, hitting $72.64. 3,262,713 shares of the company were exchanged, compared to its average volume of 2,041,684. The firm has a 50-day moving average price of $75.52 and a two-hundred day moving average price of $77.14. The company has a market cap of $19.48 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results 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 company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the company posted $0.63 EPS. McCormick & Company, Incorporated's quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.48%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Insider Activity

In other news, VP Gregory Repas sold 2,750 shares of the business'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 transaction, the vice president now directly owns 2,266 shares of the company's stock, valued at $184,497.72. The trade was a 54.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,392 shares of company stock worth $4,898,101. 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.