Tudor Investment Corp ET AL Acquires Shares of 31,405 McCormick & Company, Incorporated (NYSE:MKC)

Tudor Investment Corp ET AL bought a new stake in 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 fund bought 31,405 shares of the company's stock, valued at approximately $2,394,000.

Several other institutional investors and hedge funds have also modified their holdings of MKC. Coldstream Capital Management Inc. boosted its stake in McCormick & Company, Incorporated by 5.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 9,814 shares of the company's stock valued at $748,000 after buying an additional 550 shares during the period. Voya Investment Management LLC boosted its stake in McCormick & Company, Incorporated by 10.2% during the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company's stock worth $269,060,000 after buying an additional 326,041 shares during the period. Syon Capital LLC grew its holdings in McCormick & Company, Incorporated by 8.0% during the 4th quarter. Syon Capital LLC now owns 3,634 shares of the company's stock worth $277,000 after acquiring an additional 270 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in McCormick & Company, Incorporated by 6.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company's stock worth $245,114,000 after purchasing an additional 190,856 shares during the last quarter. Finally, MGO One Seven LLC raised its holdings in McCormick & Company, Incorporated by 8.2% in the 4th quarter. MGO One Seven LLC now owns 6,116 shares of the company's stock worth $466,000 after purchasing an additional 461 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of McCormick & Company, Incorporated stock in a transaction that occurred 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 directly owns 6,177 shares of the company's stock, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock valued at $6,478,332 over the last 90 days. 23.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays cut their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. JPMorgan Chase & Co. increased their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, TD Cowen upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $83.14.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded down $0.51 during mid-day trading on Tuesday, reaching $74.79. The company's stock had a trading volume of 1,975,826 shares, compared to its average volume of 1,963,445. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The stock has a market capitalization of $20.06 billion, a P/E ratio of 25.53, a P/E/G ratio of 3.76 and a beta of 0.74. The stock has a 50-day moving average of $78.62 and a two-hundred day moving average of $77.67. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results 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 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 analysts' expectations of $1.61 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The business's quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business 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 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 61.86%.

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.