McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 28.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,183 shares of the company’s stock after buying an additional 2,483 shares during the period. NEOS Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Curio Wealth LLC purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter valued at approximately $30,000. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated during the 4th quarter valued at approximately $33,000. Albion Financial Group UT purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $33,000. Lee Danner & Bass Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth $37,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on MKC shares. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Barclays cut their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 27th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $83.75.

McCormick & Company, Incorporated Trading Down 0.2 %

McCormick & Company, Incorporated stock opened at $81.47 on Monday. The firm has a market cap of $21.85 billion, a PE ratio of 27.80, a P/E/G ratio of 3.76 and a beta of 0.71. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The stock’s 50 day simple moving average is $79.26 and its two-hundred day simple moving average is $78.81. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 EPS. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.45 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.21%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.86%.

Insider Buying and Selling

In related news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares of the company’s stock, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Company 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.