Tidal Investments LLC Purchases 13,370 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Tidal Investments LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 72.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,894 shares of the company's stock after acquiring an additional 13,370 shares during the quarter. Tidal Investments LLC's holdings in McCormick & Company, Incorporated were worth $2,432,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on MKC. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. lifted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research report on Friday, January 24th. Finally, Barclays decreased their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $83.14.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $71.21 on Friday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a market cap of $19.10 billion, a P/E ratio of 24.30, a P/E/G ratio of 3.76 and a beta of 0.74. The business's 50 day moving average is $76.59 and its two-hundred day moving average is $77.34. 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 (NYSE:MKC - Get Free Report) last announced its 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). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company's revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current 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 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 61.86%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory Repas sold 2,750 shares of the firm's 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 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,392 shares of company stock worth $4,898,101. Company insiders own 23.80% of the company's stock.

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.

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