Savoir Faire Capital Management L.P. Increases Position in McCormick & Company, Incorporated (NYSE:MKC)

Savoir Faire Capital Management L.P. raised its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 34.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,599 shares of the company's stock after buying an additional 13,258 shares during the period. McCormick & Company, Incorporated comprises 1.9% of Savoir Faire Capital Management L.P.'s investment portfolio, making the stock its 24th biggest position. Savoir Faire Capital Management L.P.'s holdings in McCormick & Company, Incorporated were worth $3,934,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

MKC has been the subject of several analyst reports. TD Cowen upgraded 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 report on Wednesday, January 8th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised 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. One 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $83.14.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares of the company's stock, valued at approximately $20,242,820.97. This represents a 16.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gregory Repas sold 2,750 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 0.8 %

McCormick & Company, Incorporated stock traded down $0.63 during mid-day trading on Monday, hitting $74.69. The company had a trading volume of 365,981 shares, compared to its average volume of 1,956,353. The stock has a market cap of $20.03 billion, a price-to-earnings ratio of 25.49, a PEG 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. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The business has a fifty day moving average of $79.34 and a 200 day moving average of $78.04.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued 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). The firm had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. McCormick & Company, Incorporated's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.41%. McCormick & Company, Incorporated's payout ratio is currently 61.86%.

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.