Zacks Investment Management Grows Position in McCormick & Company, Incorporated (NYSE:MKC)

Zacks Investment Management grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1,703.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,294 shares of the company's stock after buying an additional 46,560 shares during the period. Zacks Investment Management's holdings in McCormick & Company, Incorporated were worth $3,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Curio Wealth LLC bought a new position in McCormick & Company, Incorporated in the 4th quarter worth $30,000. Albion Financial Group UT bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth $33,000. Twin Tree Management LP purchased a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $33,000. Lee Danner & Bass Inc. purchased a new position in McCormick & Company, Incorporated during the 4th quarter valued at approximately $37,000. Finally, Rosenberg Matthew Hamilton bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $38,000. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the firm'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 sale, the vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 247,437 shares of the company's stock, valued at $20,242,820.97. The trade was a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,842 shares of company stock valued at $6,478,332 over the last quarter. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Up 0.5 %

Shares of MKC traded up $0.35 during trading hours on Wednesday, hitting $76.09. The company had a trading volume of 451,979 shares, compared to its average volume of 1,954,987. The company 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 0.75. The company's fifty day moving average price is $79.26 and its two-hundred day moving average price is $77.98. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company posted $0.63 earnings per share. The business's revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have commented on MKC. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price 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 lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research report 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $83.14.

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.