Hamel Associates Inc. Purchases 20,370 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Hamel Associates Inc. lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 245.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 28,655 shares of the company's stock after acquiring an additional 20,370 shares during the period. Hamel Associates Inc.'s holdings in McCormick & Company, Incorporated were worth $1,961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KFG Wealth Management LLC lifted its holdings in McCormick & Company, Incorporated by 3.1% in the 4th quarter. KFG Wealth Management LLC now owns 5,229 shares of the company's stock valued at $358,000 after purchasing an additional 158 shares in the last quarter. Beaumont Financial Advisors LLC lifted its stake in shares of McCormick & Company, Incorporated by 4.5% in the fourth quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company's stock worth $252,000 after buying an additional 159 shares in the last quarter. PFG Investments LLC boosted its position in McCormick & Company, Incorporated by 2.6% during the fourth quarter. PFG Investments LLC now owns 6,981 shares of the company's stock worth $478,000 after acquiring an additional 179 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its stake in McCormick & Company, Incorporated by 3.2% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,205 shares of the company's stock valued at $425,000 after acquiring an additional 195 shares in the last quarter. Finally, Palisade Asset Management LLC raised its holdings in McCormick & Company, Incorporated by 0.5% in the 4th quarter. Palisade Asset Management LLC now owns 42,172 shares of the company's stock valued at $2,885,000 after acquiring an additional 200 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the transaction, the director now owns 5,594 shares in the company, valued at approximately $430,738. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Maritza Gomez Montiel sold 7,000 shares of the company's 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 transaction, the director now directly owns 5,594 shares of the company's stock, valued at approximately $430,738. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Katherine Jenkins sold 1,726 shares of the firm's stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The disclosure for this sale can be found here. Insiders sold 31,458 shares of company stock valued at $2,386,114 in the last three months. 22.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MKC has been the topic of several recent research reports. Citigroup boosted their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a "sell" rating in a report on Wednesday, March 27th. Barclays lifted their price target on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an "equal weight" rating in a research report on Thursday, March 28th. Consumer Edge cut McCormick & Company, Incorporated from an "overweight" rating to an "equal weight" rating in a research note on Monday, January 22nd. Argus raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and set a $88.00 price target on the stock in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. cut their price objective on McCormick & Company, Incorporated from $59.00 to $57.00 and set an "underweight" rating for the company in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $77.88.

McCormick & Company, Incorporated Trading Down 0.6 %

McCormick & Company, Incorporated stock traded down $0.47 during midday trading on Friday, reaching $74.01. 1,279,501 shares of the stock traded hands, compared to its average volume of 1,496,602. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63. The firm has a market cap of $19.87 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 3.80 and a beta of 0.73. The company has a 50-day simple moving average of $73.80 and a two-hundred day simple moving average of $69.27. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $94.39.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. Research analysts expect that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 dividend on an annualized basis and a yield of 2.27%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 64.12%.

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.