Groupama Asset Managment Boosts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Groupama Asset Managment lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 92.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,479 shares of the company’s stock after acquiring an additional 15,598 shares during the period. Groupama Asset Managment’s holdings in McCormick & Company, Incorporated were worth $2,451,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MKC. Curio Wealth LLC acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth approximately $30,000. Twin Tree Management LP acquired a new stake in shares of McCormick & Company, Incorporated during the 4th quarter worth $33,000. Albion Financial Group UT purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth $33,000. Lee Danner & Bass Inc. purchased a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth $37,000. Finally, Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at $38,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Down 0.1 %

NYSE MKC opened at $82.22 on Wednesday. The stock has a market cap of $22.05 billion, a P/E ratio of 28.06, a PEG ratio of 3.76 and a beta of 0.71. The company’s fifty day simple moving average is $79.59 and its 200-day simple moving average is $78.79. 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 has a 52 week low of $66.88 and a 52 week high of $86.24.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.19%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the transaction, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 23.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.