McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 28.5% during the 4th quarter, HoldingsChannel reports. The firm owned 11,183 shares of the company’s stock after buying an additional 2,483 shares during the period. NEOS Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $853,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. D.A. Davidson & CO. increased its holdings in shares of McCormick & Company, Incorporated by 3.7% in the third quarter. D.A. Davidson & CO. now owns 14,253 shares of the company’s stock valued at $1,173,000 after purchasing an additional 503 shares during the last quarter. Bridgewater Associates LP purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter valued at $348,000. Public Sector Pension Investment Board increased its stake in shares of McCormick & Company, Incorporated by 13.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,019 shares of the company’s stock worth $907,000 after acquiring an additional 1,300 shares during the last quarter. Alethea Capital Management LLC purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $347,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $13,994,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MKC. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Barclays dropped their price target on shares of 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. JPMorgan Chase & Co. lifted their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a research report on Friday, January 24th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.75.

Insider Transactions at McCormick & Company, Incorporated

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 shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the transaction, the director now owns 6,177 shares in the company, 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 SEC, which is available at the SEC website. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.2 %

McCormick & Company, Incorporated stock opened at $81.47 on Monday. The company has a market capitalization of $21.85 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71. 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 fifty-two week low of $66.88 and a fifty-two week high of $86.24. The firm has a 50 day moving average price of $79.26 and a 200 day moving average price of $78.81.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 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.