McCormick & Company, Incorporated $MKC Shares Sold by DJE Kapital AG

Key Points

• DJE Kapital AG cut its McCormick stake by 64.9% in Q4, selling 40,800 shares and leaving it with 22,100 shares valued at about $1.54 million.
• McCormick reported better-than-expected quarterly results, with EPS of $0.66 versus $0.61 expected and revenue of $1.87 billion versus $1.79 billion expected, while revenue rose 16.7% year over year.
• The company recently paid a quarterly dividend of $0.48 per share, or $1.92 annualized, for a yield of 3.9%, while analysts currently have a consensus rating of Hold with an average price target of $63.36.

DJE Kapital AG trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 64.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,100 shares of the company's stock after selling 40,800 shares during the period. DJE Kapital AG's holdings in McCormick & Company, Incorporated were worth $1,539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Rafferty Asset Management LLC grew its position in McCormick & Company, Incorporated by 0.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company's stock worth $1,443,000 after purchasing an additional 157 shares during the last quarter. Ransom Advisory Ltd boosted its position in shares of McCormick & Company, Incorporated by 3.6% during the 4th quarter. Ransom Advisory Ltd now owns 4,625 shares of the company's stock valued at $315,000 after acquiring an additional 160 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position in shares of McCormick & Company, Incorporated by 67.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company's stock valued at $28,000 after acquiring an additional 164 shares in the last quarter. Modern Wealth Management LLC boosted its position in shares of McCormick & Company, Incorporated by 5.9% during the 2nd quarter. Modern Wealth Management LLC now owns 3,258 shares of the company's stock valued at $247,000 after acquiring an additional 181 shares in the last quarter. Finally, First Affirmative Financial Network boosted its position in shares of McCormick & Company, Incorporated by 3.0% during the 3rd quarter. First Affirmative Financial Network now owns 6,252 shares of the company's stock valued at $418,000 after acquiring an additional 181 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Gavin Hattersley bought 2,000 shares of the stock in a transaction on Friday, April 10th. The stock was purchased at an average price of $52.98 per share, with a total value of $105,960.00. Following the completion of the purchase, the director owned 2,906 shares of the company's stock, valued at approximately $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 10.60% of the company's stock.

McCormick & Company, Incorporated Trading Down 0.7%

MKC opened at $49.33 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. The company has a market cap of $13.26 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 2.46 and a beta of 0.65. The firm has a 50 day simple moving average of $49.21 and a 200 day simple moving average of $59.34. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The firm's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, April 20th. McCormick & Company, Incorporated's dividend payout ratio is presently 31.48%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of McCormick & Company, Incorporated in a research report on Monday, April 27th. UBS Group decreased their target price on shares of McCormick & Company, Incorporated from $53.00 to $51.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 2nd. Stifel Nicolaus decreased their target price on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a "hold" rating on the stock in a research report on Wednesday, April 1st. BNP Paribas Exane decreased their target price on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 1st. Finally, Jefferies Financial Group decreased their target price on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, June 4th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $63.36.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated NYSE: MKC is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick's product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.

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