Raiffeisen Bank International AG Invests $1.45 Million in McCormick & Company, Incorporated (NYSE:MKC)

Raiffeisen Bank International AG purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,152 shares of the company's stock, valued at approximately $1,445,000.

Other hedge funds have also made changes to their positions in the company. Curio Wealth LLC acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $30,000. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth $33,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth $33,000. Lee Danner & Bass Inc. acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth $37,000. Finally, Parvin Asset Management LLC acquired a new position in McCormick & Company, Incorporated in the fourth quarter worth $38,000. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $75.50 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The firm's 50-day simple moving average is $77.24 and its 200 day simple moving average is $77.49. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a market cap of $20.25 billion, a P/E ratio of 25.77, a P/E/G ratio of 3.76 and a beta of 0.74.

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). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company 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 earnings per share. McCormick & Company, Incorporated's revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.38%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. The trade was a 54.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,392 shares of company stock worth $4,898,101. 23.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MKC has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Barclays cut their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $83.14.

About McCormick & Company, Incorporated

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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