Pacific Point Advisors LLC Invests $1.35 Million in McCormick & Company, Incorporated (NYSE:MKC)

Pacific Point Advisors LLC bought a new position in McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,581 shares of the company’s stock, valued at approximately $1,352,000. McCormick & Company, Incorporated makes up 0.8% of Pacific Point Advisors LLC’s holdings, making the stock its 26th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Savvy Advisors Inc. purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $466,000. Somerville Kurt F grew its stake in shares of McCormick & Company, Incorporated by 34.2% during the fourth quarter. Somerville Kurt F now owns 96,074 shares of the company’s stock valued at $7,325,000 after buying an additional 24,467 shares during the last quarter. DJE Kapital AG bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $4,228,000. SBI Securities Co. Ltd. bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $234,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of McCormick & Company, Incorporated by 16.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 136,891 shares of the company’s stock valued at $10,547,000 after buying an additional 19,491 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on MKC shares. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. Finally, Barclays cut 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. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $83.14.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now owns 2,266 shares of the company’s stock, 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 sold 60,392 shares of company stock worth $4,898,101 in the last 90 days. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Down 1.8%

McCormick & Company, Incorporated stock opened at $71.21 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 3.76 and a beta of 0.74. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The business has a fifty day moving average price of $76.59 and a 200-day moving average price of $77.34.

McCormick & Company, Incorporated (NYSE:MKC) last issued its 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). The firm had revenue of $1.61 billion during 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 business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.53%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.86%.

McCormick & Company, Incorporated 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.