Lazard Asset Management LLC Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

Lazard Asset Management LLC bought a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,533 shares of the company's stock, valued at approximately $726,000.

Other hedge funds have also made changes to their positions in the company. Curio Wealth LLC bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth about $30,000. Albion Financial Group UT acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Twin Tree Management LP bought a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Lee Danner & Bass Inc. bought a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $37,000. Finally, Parvin Asset Management LLC acquired a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. The trade was a 16.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of the company's 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. Insiders have sold a total of 60,392 shares of company stock valued at $4,898,101 in the last 90 days. 23.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on MKC. 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 report on Monday, January 27th. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. boosted their target price 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $83.14.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $74.13 on Wednesday. The business's 50-day simple moving average is $76.96 and its 200 day simple moving average is $77.43. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a market cap of $19.88 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 3.76 and a beta of 0.74. 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 earnings results 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). 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 the consensus estimate of $1.61 billion. During the same period last year, the business posted $0.63 EPS. The firm's revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's payout ratio is 61.86%.

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.

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