Puzo Michael J Acquires 9,096 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Puzo Michael J lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 13.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,003 shares of the company's stock after acquiring an additional 9,096 shares during the quarter. McCormick & Company, Incorporated makes up approximately 1.8% of Puzo Michael J's holdings, making the stock its 28th biggest position. Puzo Michael J's holdings in McCormick & Company, Incorporated were worth $6,256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its position in shares of McCormick & Company, Incorporated by 2.8% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock valued at $382,000 after acquiring an additional 137 shares in the last quarter. Sage Capital Advisors llc raised its stake in McCormick & Company, Incorporated by 2.8% during the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock valued at $413,000 after purchasing an additional 137 shares during the period. Empower Advisory Group LLC lifted its holdings in McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock worth $641,000 after purchasing an additional 138 shares in the last quarter. Bessemer Group Inc. boosted its stake in McCormick & Company, Incorporated by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock worth $3,278,000 after purchasing an additional 139 shares during the period. Finally, ST Germain D J Co. Inc. boosted its stake in McCormick & Company, Incorporated by 1.8% in the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock worth $643,000 after purchasing an additional 140 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on MKC. UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research report on Monday. They set a "neutral" rating and a $83.00 price objective on the stock. Citigroup cut their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $84.13.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the sale, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81% decrease in their ownership of the stock. The sale 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 business's stock in a transaction on Monday, May 12th. The shares were 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. In the last quarter, insiders sold 60,392 shares of company stock valued at $4,898,101. Insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded up $0.19 during midday trading on Wednesday, reaching $73.15. 1,881,643 shares of the stock traded hands, compared to its average volume of 2,042,999. The company's 50 day moving average is $74.50 and its 200 day moving average is $76.92. 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 0.57, a current ratio of 0.65 and a quick ratio of 0.25. The stock has a market capitalization of $19.62 billion, a PE ratio of 25.14, a P/E/G ratio of 3.72 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. The business 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 EPS. McCormick & Company, Incorporated's revenue for the quarter was up .2% compared to the same quarter last year. On average, equities 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 declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's 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.