Millennium Management LLC Acquires New Stake in McCormick & Company, Incorporated (MKC)

Millennium Management LLC acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, Holdings Channel reports. The firm acquired 103,669 shares of the company’s stock, valued at approximately $10,565,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $108,000. Zions Bancorporation grew its position in McCormick & Company, Incorporated by 5,071.4% in the third quarter. Zions Bancorporation now owns 1,086 shares of the company’s stock valued at $111,000 after acquiring an additional 1,065 shares during the period. Rockland Trust Co. bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $200,000. GSA Capital Partners LLP bought a new stake in McCormick & Company, Incorporated in the third quarter valued at $200,000. Finally, Pratt Collard Advisory Partners LLC bought a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $204,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

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McCormick & Company, Incorporated stock opened at $104.20 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.42 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $13,661.14, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. McCormick & Company, Incorporated has a 52 week low of $90.25 and a 52 week high of $111.46.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 27th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.09. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. McCormick & Company, Incorporated had a return on equity of 23.39% and a net margin of 16.04%. The business’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. research analysts anticipate that McCormick & Company, Incorporated will post 4.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 23rd. Shareholders of record on Monday, April 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, April 6th. McCormick & Company, Incorporated’s dividend payout ratio is currently 48.83%.

A number of analysts have weighed in on the company. Sanford C. Bernstein upped their price target on McCormick & Company, Incorporated from $113.00 to $118.00 and gave the company a “market perform” rating in a research report on Wednesday, March 28th. Citigroup upped their price target on McCormick & Company, Incorporated from $113.00 to $114.00 and gave the company a “neutral” rating in a research report on Wednesday, March 28th. Zacks Investment Research cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Friday. Credit Suisse Group set a $115.00 price target on McCormick & Company, Incorporated and gave the company a “buy” rating in a research report on Tuesday, December 12th. Finally, Jefferies Group reiterated a “buy” rating and issued a $120.00 price target on shares of McCormick & Company, Incorporated in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $111.89.

In other McCormick & Company, Incorporated news, VP Michael R. Smith sold 2,575 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $107.96, for a total value of $277,997.00. Following the transaction, the vice president now owns 17,312 shares of the company’s stock, valued at $1,869,003.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Patricia A. Little sold 6,250 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $108.63, for a total value of $678,937.50. Following the completion of the transaction, the director now directly owns 15,497 shares in the company, valued at approximately $1,683,439.11. The disclosure for this sale can be found here. 19.20% of the stock is currently owned by insiders.

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About McCormick & Company, Incorporated

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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