Night Squared LP Invests $8.04 Million in McCormick & Company, Incorporated $MKC

Night Squared LP bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 117,999 shares of the company’s stock, valued at approximately $8,037,000. McCormick & Company, Incorporated accounts for 2.3% of Night Squared LP’s investment portfolio, making the stock its 12th biggest position.

A number of other institutional investors have also modified their holdings of MKC. GoalVest Advisory LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth about $28,000. Deseret Mutual Benefit Administrators boosted its holdings in McCormick & Company, Incorporated by 67.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after acquiring an additional 164 shares during the period. Motiv8 Investments LLC purchased a new position in McCormick & Company, Incorporated in the 4th quarter worth approximately $28,000. Zions Bancorporation National Association UT boosted its holdings in McCormick & Company, Incorporated by 340.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock worth $31,000 after acquiring an additional 357 shares during the period. Finally, Glen Eagle Advisors LLC boosted its holdings in McCormick & Company, Incorporated by 42.5% in the 4th quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock worth $39,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity

In other McCormick & Company, Incorporated news, Director Gavin Hattersley bought 2,000 shares of the business’s stock in a transaction on Friday, April 10th. The shares were bought at an average cost of $52.98 per share, with a total value of $105,960.00. Following the transaction, the director directly owned 2,906 shares in the company, valued at approximately $153,959.88. This trade represents a 220.75% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays decreased their price target on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Stifel Nicolaus decreased their price target on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. UBS Group decreased their price target on McCormick & Company, Incorporated from $53.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. BNP Paribas Exane decreased their price target on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Finally, Zacks Research upgraded McCormick & Company, Incorporated from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.90.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $47.15 on Wednesday. The business’s 50 day moving average is $49.17 and its two-hundred day moving average is $58.94. McCormick & Company, Incorporated has a 52-week low of $44.82 and a 52-week high of $78.16. The firm has a market cap of $12.67 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 2.37 and a beta of 0.65. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the company posted $0.60 EPS. McCormick & Company, Incorporated’s quarterly revenue was up 16.7% on a year-over-year basis. Analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, April 20th. McCormick & Company, Incorporated’s dividend payout ratio is presently 31.48%.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.