Cognios Beta Neutral Large Cap Fund LP Purchases 237 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Cognios Beta Neutral Large Cap Fund LP boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,745 shares of the company’s stock after acquiring an additional 237 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in McCormick & Company, Incorporated were worth $530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. Avior Wealth Management LLC raised its stake in McCormick & Company, Incorporated by 91.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,182 shares of the company’s stock worth $89,000 after acquiring an additional 566 shares during the period. Royal Fund Management LLC raised its position in shares of McCormick & Company, Incorporated by 51.3% during the third quarter. Royal Fund Management LLC now owns 6,668 shares of the company’s stock valued at $512,000 after buying an additional 2,260 shares during the last quarter. Meridian Wealth Management LLC raised its position in shares of McCormick & Company, Incorporated by 80.3% during the third quarter. Meridian Wealth Management LLC now owns 16,610 shares of the company’s stock valued at $1,256,000 after buying an additional 7,397 shares during the last quarter. KFG Wealth Management LLC raised its position in shares of McCormick & Company, Incorporated by 15.0% during the third quarter. KFG Wealth Management LLC now owns 5,071 shares of the company’s stock valued at $384,000 after buying an additional 661 shares during the last quarter. Finally, SS&H Financial Advisors Inc. bought a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $202,000. Institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the sale, the director now owns 24,732 shares in the company, valued at approximately $1,868,997.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the transaction, the director now directly owns 39,181 shares of the company’s stock, valued at approximately $2,554,601.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Patricia A. Little sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,726 shares of company stock worth $2,504,728. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC traded up $0.83 during trading hours on Wednesday, reaching $75.85. The stock had a trading volume of 1,816,478 shares, compared to its average volume of 2,067,602. The stock has a fifty day moving average of $71.00 and a 200 day moving average of $67.63. The stock has a market cap of $20.36 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 3.83 and a beta of 0.74. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $94.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio is presently 64.12%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MKC shares. Consumer Edge cut shares of McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research report on Monday, January 22nd. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a report on Tuesday, April 2nd. Stifel Nicolaus raised their target price on shares of McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. cut their target price on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a report on Friday, January 26th. Finally, Citigroup lifted their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.88.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.