Pacific Point Advisors LLC Purchases Shares of 17,581 McCormick & Company, Incorporated (NYSE:MKC)

Pacific Point Advisors LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 17,581 shares of the company's stock, valued at approximately $1,352,000. McCormick & Company, Incorporated comprises 0.8% of Pacific Point Advisors LLC's portfolio, making the stock its 26th largest position.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of 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 cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $83.14.

Insider Transactions at McCormick & Company, Incorporated

In other news, VP Gregory Repas sold 2,750 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares of the company's stock, valued at $184,497.72. This represents a 54.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction on Monday, May 12th. The stock was 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. Insiders sold 60,392 shares of company stock valued at $4,898,101 over the last quarter. Corporate insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Trading Up 1.0%

NYSE:MKC traded up $0.69 during trading hours on Tuesday, hitting $71.80. The stock had a trading volume of 2,437,839 shares, compared to its average volume of 2,306,566. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 3.76 and a beta of 0.74. The business's 50 day moving average is $76.19 and its 200-day moving average is $77.26.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued 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). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company posted $0.63 EPS. The firm's revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal 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. This represents a $1.80 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is 61.86%.

McCormick & Company, Incorporated 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.