McCormick & Company, Incorporated (NYSE:MKC) Shares Bought by Cognios Beta Neutral Large Cap Fund LP

Cognios Beta Neutral Large Cap Fund LP raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,745 shares of the company’s stock after purchasing an additional 237 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in McCormick & Company, Incorporated were worth $530,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MKC. KFG Wealth Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 3.1% during the fourth quarter. KFG Wealth Management LLC now owns 5,229 shares of the company’s stock valued at $358,000 after purchasing an additional 158 shares during the last quarter. Beaumont Financial Advisors LLC lifted its stake in McCormick & Company, Incorporated by 4.5% in the 4th quarter. Beaumont Financial Advisors LLC now owns 3,690 shares of the company’s stock worth $252,000 after acquiring an additional 159 shares in the last quarter. PFG Investments LLC lifted its stake in McCormick & Company, Incorporated by 2.6% in the 4th quarter. PFG Investments LLC now owns 6,981 shares of the company’s stock worth $478,000 after acquiring an additional 179 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in McCormick & Company, Incorporated by 3.2% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,205 shares of the company’s stock worth $425,000 after acquiring an additional 195 shares in the last quarter. Finally, Atlas Private Wealth Management lifted its stake in McCormick & Company, Incorporated by 1.3% in the 3rd quarter. Atlas Private Wealth Management now owns 15,661 shares of the company’s stock worth $1,185,000 after acquiring an additional 201 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. reduced their price objective on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday, January 26th. Stifel Nicolaus increased their price objective on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. Finally, Barclays upped their target price on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.88.

McCormick & Company, Incorporated Price Performance

MKC stock traded up $0.83 during midday trading on Wednesday, reaching $75.85. 1,816,478 shares of the company’s stock traded hands, compared to its average volume of 2,067,602. The company has a 50-day simple moving average of $71.00 and a two-hundred day simple moving average of $67.63. The company has a market cap of $20.36 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 3.83 and a beta of 0.74. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $94.39. The company has a quick ratio of 0.30, a current ratio of 0.68 and a debt-to-equity ratio of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.21%. McCormick & Company, Incorporated’s payout ratio is presently 64.12%.

Insider Buying and Selling

In other news, insider Katherine Jenkins sold 1,726 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $65.20, for a total value of $326,000.00. Following the completion of the transaction, the director now owns 39,181 shares in the company, valued at approximately $2,554,601.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,726 shares of company stock worth $2,504,728. Corporate insiders own 22.90% of the company’s stock.

McCormick & Company, Incorporated 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.