McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by ORG Partners LLC

ORG Partners LLC boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 337.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,311 shares of the company’s stock after acquiring an additional 1,011 shares during the quarter. ORG Partners LLC’s holdings in McCormick & Company, Incorporated were worth $108,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. raised its holdings in McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock valued at $32,000 after acquiring an additional 336 shares in the last quarter. Curio Wealth LLC acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $30,000. Ameriflex Group Inc. acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Twin Tree Management LP acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $33,000. Finally, Lee Danner & Bass Inc. acquired a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MKC shares. Citigroup cut their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, June 17th. Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, UBS Group started coverage on shares of McCormick & Company, Incorporated in a report on Monday, June 16th. They set a “neutral” rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $84.13.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $72.98 on Friday. The firm’s fifty day simple moving average is $74.34 and its 200-day simple moving average is $76.82. The stock has a market capitalization of $19.57 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 3.68 and a beta of 0.68. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.25.

McCormick & Company, Incorporated (NYSE:MKC) last announced its 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). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.47%. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Insider Activity

In other news, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction on 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock valued at $4,898,101 in the last ninety days. 23.80% of the stock is currently owned by company insiders.

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.