Vest Financial LLC Boosts Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Vest Financial LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 732,089 shares of the company's stock after purchasing an additional 11,511 shares during the quarter. McCormick & Company, Incorporated makes up approximately 0.9% of Vest Financial LLC's holdings, making the stock its 28th largest holding. Vest Financial LLC owned about 0.27% of McCormick & Company, Incorporated worth $60,258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MKC. Stratos Wealth Partners LTD. increased its holdings in McCormick & Company, Incorporated by 4.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 83,516 shares of the company's stock worth $6,367,000 after purchasing an additional 3,863 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in McCormick & Company, Incorporated by 29.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,647 shares of the company's stock worth $2,969,000 after purchasing an additional 8,766 shares during the last quarter. Choreo LLC increased its holdings in McCormick & Company, Incorporated by 14.5% during the 4th quarter. Choreo LLC now owns 13,232 shares of the company's stock worth $1,011,000 after purchasing an additional 1,675 shares during the last quarter. Tyche Wealth Partners LLC purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $732,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in McCormick & Company, Incorporated by 1.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 623,774 shares of the company's stock worth $47,557,000 after purchasing an additional 11,417 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $72.87 on Friday. The firm has a market cap of $19.54 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 3.76 and a beta of 0.68. The stock has a 50 day moving average of $74.86 and a 200-day moving average of $77.08. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. McCormick & Company, Incorporated's revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. As a group, analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.47%. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This represents a 16.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the company's stock in a transaction 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 owns 2,266 shares of the company's stock, valued at approximately $184,497.72. The trade was a 54.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,392 shares of company stock worth $4,898,101 in the last three months. 23.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $83.14.

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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