1,700 Shares in McCormick & Company, Incorporated (NYSE:MKC) Purchased by Summit Securities Group LLC

Summit Securities Group LLC purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,700 shares of the company’s stock, valued at approximately $130,000.

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

Insider Activity

In related news, Director Margaret M. V. Preston sold 28,092 shares of the firm’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 completion of the sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.2 %

MKC opened at $81.47 on Friday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month 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. The business’s 50-day moving average price is $79.26 and its 200-day moving average price is $78.83. The company has a market cap of $21.85 billion, a P/E ratio of 27.80, a P/E/G ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced 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 company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm earned $0.63 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MKC shares. Barclays lowered their price target on 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. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price target 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. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average target price of $83.75.

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.