Reynders McVeigh Capital Management LLC Buys 38,528 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Reynders McVeigh Capital Management LLC boosted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 371,047 shares of the company's stock after acquiring an additional 38,528 shares during the period. McCormick & Company, Incorporated accounts for about 1.5% of Reynders McVeigh Capital Management LLC's holdings, making the stock its 22nd biggest position. Reynders McVeigh Capital Management LLC owned about 0.14% of McCormick & Company, Incorporated worth $28,289,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in McCormick & Company, Incorporated by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company's stock valued at $11,500,000 after acquiring an additional 24,881 shares during the period. Vestcor Inc raised its position in shares of McCormick & Company, Incorporated by 25.9% in the third quarter. Vestcor Inc now owns 5,043 shares of the company's stock valued at $415,000 after purchasing an additional 1,036 shares during the period. Toronto Dominion Bank lifted its stake in shares of McCormick & Company, Incorporated by 8.4% during the 3rd quarter. Toronto Dominion Bank now owns 137,301 shares of the company's stock valued at $11,300,000 after buying an additional 10,605 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in McCormick & Company, Incorporated by 35.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 873 shares of the company's stock worth $72,000 after buying an additional 227 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its holdings in McCormick & Company, Incorporated by 10.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 93,400 shares of the company's stock worth $7,687,000 after buying an additional 8,671 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. This represents a 54.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction 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 sale, the director now directly owns 247,437 shares of the company's stock, valued at $20,242,820.97. The trade was a 16.81 % 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 worth $6,478,332. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded up $1.75 during trading on Friday, hitting $75.29. 2,652,839 shares of the stock traded hands, compared to its average volume of 1,959,102. The firm's fifty day moving average is $79.37 and its 200-day moving average is $78.15. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. 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 posted 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). The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations 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 business posted $0.63 earnings per share. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.39%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 61.86%.

Analyst Upgrades and Downgrades

MKC has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. TD Cowen raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the stock from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays cut 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 research report on Monday, January 27th. Finally, Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $83.14.

McCormick & Company, Incorporated Company 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.