Tidal Investments LLC Increases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Tidal Investments LLC lifted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 72.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,894 shares of the company's stock after purchasing an additional 13,370 shares during the period. Tidal Investments LLC's holdings in McCormick & Company, Incorporated were worth $2,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Curio Wealth LLC purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at $30,000. Twin Tree Management LP purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Albion Financial Group UT purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at $33,000. Lee Danner & Bass Inc. purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at $37,000. Finally, Parvin Asset Management LLC purchased a new position in McCormick & Company, Incorporated in the fourth quarter valued at $38,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction dated 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 owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,392 shares of company stock worth $4,898,101. Corporate insiders own 23.80% of the company's stock.

Analyst Upgrades and Downgrades

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

McCormick & Company, Incorporated Stock Down 0.7%

McCormick & Company, Incorporated stock traded down $0.50 during midday trading on Wednesday, reaching $71.31. The company's stock had a trading volume of 323,724 shares, compared to its average volume of 2,028,566. The business has a 50-day simple moving average of $76.01 and a 200-day simple moving average of $77.22. 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 fifty-two week low of $66.88 and a fifty-two week high of $86.24. The company has a market cap of $19.12 billion, a P/E ratio of 24.34, a P/E/G 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 EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $1.61 billion. During the same quarter last year, the firm posted $0.63 EPS. The firm's revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 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.