NBC Securities Inc. Increases Position in McCormick & Company, Incorporated (NYSE:MKC)

NBC Securities Inc. raised its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 105,320.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,271 shares of the company's stock after purchasing an additional 5,266 shares during the quarter. NBC Securities Inc.'s holdings in McCormick & Company, Incorporated were worth $433,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MKC. Curio Wealth LLC purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $30,000. Twin Tree Management LP purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Ameriflex Group Inc. purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Lee Danner & Bass Inc. purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $37,000. Finally, Parvin Asset Management LLC purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $38,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of "Hold" and a consensus target price of $83.14.

Insider Activity at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the firm's 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 transaction, the vice president now directly owns 2,266 shares of the company's stock, valued at approximately $184,497.72. This trade represents a 54.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were 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 $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. In the last three months, insiders have sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 0.5%

MKC stock opened at $72.87 on Friday. The company's 50-day simple moving average is $74.86 and its 200-day simple moving average is $77.08. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The firm has a market cap of $19.54 billion, a P/E ratio of 24.87, a PEG ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted 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 return on equity of 14.89% and a net margin of 11.73%. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The company's revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast 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. Investors of record on Monday, April 7th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

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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