Point72 Asset Management L.P. Has $60.76 Million Stake in McCormick & Company, Incorporated (NYSE:MKC)

Point72 Asset Management L.P. lowered its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 48.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 797,003 shares of the company's stock after selling 747,528 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.30% of McCormick & Company, Incorporated worth $60,764,000 as of its most recent SEC filing.

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

McCormick & Company, Incorporated Trading Up 1.3%

Shares of NYSE:MKC opened at $74.52 on Friday. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The stock has a market cap of $19.99 billion, a PE ratio of 25.43, a P/E/G ratio of 3.76 and a beta of 0.74. The business has a 50 day moving average of $77.39 and a 200-day moving average of $77.50. 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 issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company's revenue was up .2% on a year-over-year basis. As a group, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 61.86%.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research analyst reports. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. lifted 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. Finally, Barclays reduced 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $83.14.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 60,392 shares of company stock worth $4,898,101. Company insiders own 23.80% of the company's stock.

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.

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