Forum Financial Management LP Buys New Position in McCormick & Company, Incorporated (NYSE:MKC)

Forum Financial Management LP acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,130 shares of the company's stock, valued at approximately $315,000.

Other institutional investors also recently made changes to their positions in the company. Curio Wealth LLC purchased a new stake in McCormick & Company, Incorporated during the 4th quarter worth $30,000. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $33,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $33,000. Lee Danner & Bass Inc. acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $37,000. Finally, Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $38,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded down $0.45 during trading on Friday, reaching $74.56. 1,256,059 shares of the company's stock traded hands, compared to its average volume of 1,959,944. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a 50 day moving average of $79.18 and a 200-day moving average of $77.88. The stock has a market capitalization of $20.00 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company earned $0.63 EPS. McCormick & Company, Incorporated's quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued 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 2.41%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Analysts Set New Price Targets

MKC has been the topic of a number of recent analyst reports. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. boosted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. Barclays cut their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $83.14.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the business'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 owns 247,437 shares in the company, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Gregory Repas sold 2,750 shares of the business'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 $184,497.72. This trade represents a 54.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,842 shares of company stock worth $6,478,332. Company insiders own 23.80% of the company's stock.

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.