Retirement Guys Formula LLC Takes $988,000 Position in McCormick & Company, Incorporated (NYSE:MKC)

Retirement Guys Formula LLC bought a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 12,002 shares of the company's stock, valued at approximately $988,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MKC. Curio Wealth LLC purchased a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth about $30,000. Salem Investment Counselors Inc. boosted its position in shares of McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after purchasing an additional 336 shares during the period. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth approximately $33,000. Ameriflex Group Inc. acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth approximately $33,000. Finally, Lee Danner & Bass Inc. purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $37,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Up 2.6%

Shares of NYSE:MKC opened at $74.96 on Tuesday. The stock has a 50-day simple moving average of $74.29 and a 200-day simple moving average of $76.79. The stock has a market capitalization of $20.10 billion, a P/E ratio of 25.76, a PEG ratio of 3.68 and a beta of 0.68. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.25 and a current ratio of 0.65.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly 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). The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 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 21st. Stockholders of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.40%. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Insider Activity

In other news, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was 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 in the company, valued at approximately $184,497.72. This represents a 54.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,392 shares of company stock worth $4,898,101. 23.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MKC has been the topic of several research reports. Citigroup lowered their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, UBS Group assumed coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $84.13.

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.

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