Intech Investment Management LLC Buys 22,396 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Intech Investment Management LLC boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 28.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,571 shares of the company’s stock after acquiring an additional 22,396 shares during the period. Intech Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $6,881,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. HCR Wealth Advisors increased its stake in McCormick & Company, Incorporated by 15.2% during the 4th quarter. HCR Wealth Advisors now owns 5,236 shares of the company’s stock worth $358,000 after acquiring an additional 689 shares during the period. Quest Partners LLC bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at $672,000. Trexquant Investment LP increased its stake in shares of McCormick & Company, Incorporated by 374.3% in the 4th quarter. Trexquant Investment LP now owns 116,169 shares of the company’s stock valued at $7,948,000 after purchasing an additional 91,676 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of McCormick & Company, Incorporated by 14.4% during the 4th quarter. Corient Private Wealth LLC now owns 677,195 shares of the company’s stock valued at $46,334,000 after acquiring an additional 85,242 shares in the last quarter. Finally, Sachetta LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $213,000. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. Citigroup lifted their target price on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, April 2nd. Finally, Barclays lifted their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.88.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the sale, the director now owns 199,258 shares in the company, valued at approximately $14,695,277.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,458 shares of company stock worth $8,286,114. Insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.1 %

McCormick & Company, Incorporated stock traded up $0.06 during midday trading on Friday, reaching $72.21. The stock had a trading volume of 1,053,823 shares, compared to its average volume of 1,462,559. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. The company has a market capitalization of $19.38 billion, a P/E ratio of 27.56, a PEG ratio of 3.70 and a beta of 0.73. The company has a fifty day moving average price of $74.25 and a two-hundred day moving average price of $69.57. The company has a current ratio of 0.68, a quick ratio of 0.30 and a debt-to-equity ratio of 0.63.

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 business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the company posted $0.59 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a $0.42 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.33%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

McCormick & Company, Incorporated Company Profile

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.