Fenimore Asset Management Inc. Acquires 546,911 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Fenimore Asset Management Inc. lifted its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 369.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 695,031 shares of the company's stock after buying an additional 546,911 shares during the period. Fenimore Asset Management Inc. owned about 0.26% of McCormick & Company, Incorporated worth $47,554,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MKC. Union Savings Bank bought a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $27,000. Legacy Financial Group LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter worth about $29,000. Anchor Investment Management LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter valued at about $36,000. Point72 Hong Kong Ltd bought a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at approximately $44,000. Finally, ICA Group Wealth Management LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $46,000. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock traded up $1.65 on Tuesday, reaching $78.27. The stock had a trading volume of 3,727,897 shares, compared to its average volume of 2,196,168. The stock has a market cap of $21.00 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 3.97 and a beta of 0.74. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The business's 50-day moving average price is $68.66 and its two-hundred day moving average price is $67.62. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company's revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. On average, sell-side analysts forecast that McCormick & Company, Incorporated will post 2.83 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.15%. The ex-dividend date is Friday, April 5th. McCormick & Company, Incorporated's dividend payout ratio is 64.12%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the transaction, the director now owns 24,732 shares in the company, valued at $1,868,997.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Maritza Gomez Montiel sold 7,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the sale, the director now owns 5,594 shares in the company, valued at approximately $430,738. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patricia A. Little sold 20,000 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the completion of the sale, the director now owns 24,732 shares of the company's stock, valued at approximately $1,868,997.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,000 shares of company stock valued at $2,376,400. 22.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Consumer Edge cut shares of McCormick & Company, Incorporated from an "overweight" rating to an "equal weight" rating in a research report on Monday, January 22nd. Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a "hold" rating in a research report on Wednesday, March 27th. Barclays lifted their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an "equal weight" rating in a report on Thursday, March 28th. Citigroup boosted their price target on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a "sell" rating in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an "underweight" rating on the stock in a research report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and an average target price of $77.88.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.