8,663 Shares in McCormick & Company, Incorporated (NYSE:MKC) Bought by Frederick Financial Consultants LLC

Frederick Financial Consultants LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,663 shares of the company's stock, valued at approximately $660,000.

Several other hedge funds have also recently modified their holdings of MKC. Curio Wealth LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $30,000. Albion Financial Group UT purchased a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $33,000. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Lee Danner & Bass Inc. purchased a new position in McCormick & Company, Incorporated in the fourth quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth $38,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the sale, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This trade represents a 16.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares of the company's stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,842 shares of company stock valued at $6,478,332. Insiders own 23.80% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded up $0.37 during trading hours on Wednesday, reaching $76.11. 676,911 shares of the company traded hands, compared to its average volume of 1,955,876. The stock has a market capitalization of $20.41 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $79.26 and a 200 day simple moving average of $77.98. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly 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). McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company posted $0.63 EPS. The business's revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared 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. This represents a $1.80 annualized dividend and a yield of 2.36%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.86%.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research analyst reports. Barclays lowered their price target on 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. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus target price of $83.14.

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.