Parr Mcknight Wealth Management Group LLC Buys Shares of 14,017 McCormick & Company, Incorporated (NYSE:MKC)

Parr Mcknight Wealth Management Group LLC acquired a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,017 shares of the company's stock, valued at approximately $1,069,000.

A number of other hedge funds have also recently added to or reduced their stakes in MKC. Ballentine Partners LLC boosted its holdings in McCormick & Company, Incorporated by 3.4% in the fourth quarter. Ballentine Partners LLC now owns 6,136 shares of the company's stock worth $468,000 after purchasing an additional 201 shares during the period. Apeiron RIA LLC lifted its stake in McCormick & Company, Incorporated by 3.8% in the fourth quarter. Apeiron RIA LLC now owns 4,803 shares of the company's stock valued at $366,000 after buying an additional 178 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in McCormick & Company, Incorporated by 102.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 24,129 shares of the company's stock valued at $1,840,000 after buying an additional 12,229 shares during the last quarter. Benin Management CORP bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $267,000. Finally, Fenimore Asset Management Inc lifted its stake in McCormick & Company, Incorporated by 1.5% in the fourth quarter. Fenimore Asset Management Inc now owns 748,316 shares of the company's stock valued at $57,052,000 after buying an additional 10,722 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $0.69 during midday trading on Tuesday, reaching $71.80. 2,437,843 shares of the company traded hands, compared to its average volume of 2,035,113. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The stock has a 50-day moving average price of $76.19 and a 200 day moving average price of $77.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. McCormick & Company, Incorporated's revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.51%. McCormick & Company, Incorporated's payout ratio is presently 61.86%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the transaction, the vice president now owns 2,266 shares of the company's stock, valued at $184,497.72. The trade was a 54.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This trade represents a 16.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,392 shares of company stock worth $4,898,101. Company insiders own 23.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MKC. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays cut their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $83.14.

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.