Schonfeld Strategic Advisors LLC Sells 11,227 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Schonfeld Strategic Advisors LLC trimmed its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 69.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,035 shares of the company's stock after selling 11,227 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in McCormick & Company, Incorporated were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Curio Wealth LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth about $30,000. Albion Financial Group UT acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $33,000. Twin Tree Management LP acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $33,000. Lee Danner & Bass Inc. acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $38,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Trading Down 0.2%

Shares of McCormick & Company, Incorporated stock opened at $76.10 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The stock has a 50 day moving average price of $78.03 and a two-hundred day moving average price of $77.58. The stock has a market capitalization of $20.41 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 EPS 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 firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the business posted $0.63 EPS. The company's revenue was up .2% on a year-over-year basis. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.37%. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

Insider Activity

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now owns 6,177 shares of the company's stock, valued at approximately $475,814.31. The trade was a 81.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This represents a 16.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock worth $6,478,332 over the last 90 days. 23.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MKC shares. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays decreased their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently 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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