Harbour Capital Advisors LLC Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Harbour Capital Advisors LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,225 shares of the company's stock, valued at approximately $342,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. boosted 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 acquiring an additional 137 shares during the last quarter. Sage Capital Advisors llc raised its stake in McCormick & Company, Incorporated by 2.8% during the first quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock worth $413,000 after purchasing an additional 137 shares during the period. Bessemer Group Inc. boosted its holdings in shares of 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 purchasing an additional 139 shares during the last quarter. ST Germain D J Co. Inc. grew its stake in shares of McCormick & Company, Incorporated by 1.8% during the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock valued at $643,000 after buying an additional 140 shares during the period. Finally, Miracle Mile Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 1.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock valued at $912,000 after buying an additional 146 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MKC shares. UBS Group started coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price on the stock. Citigroup reduced their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 17th. Finally, 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, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $84.13.

McCormick & Company, Incorporated Trading Down 0.3%

Shares of MKC opened at $74.64 on Wednesday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The stock's 50-day moving average is $74.27 and its two-hundred day moving average is $76.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.25. The stock has a market cap of $20.02 billion, a PE ratio of 25.65, a P/E/G ratio of 3.77 and a beta 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 the consensus estimate of $0.64 by ($0.04). The company 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 11.67% and a return on equity of 14.63%. The business's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.41%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.86%.

Insider Activity

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on 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 in the company, valued at $20,242,820.97. This represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock worth $4,898,101 over the last 90 days. Company insiders own 23.80% of the company's stock.

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.

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