Tudor Investment Corp ET AL Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Tudor Investment Corp ET AL acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 31,405 shares of the company’s stock, valued at approximately $2,394,000.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays reduced their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $83.14.

Insider Activity

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the sale, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,842 shares of company stock worth $6,478,332. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Up 1.2 %

McCormick & Company, Incorporated stock opened at $76.02 on Friday. McCormick & Company, Incorporated has a 12-month low of $66.88 and a 12-month high of $86.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The stock has a market capitalization of $20.39 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The firm has a 50 day simple moving average of $78.71 and a 200-day simple moving average of $77.72.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated’s payout ratio is 61.86%.

McCormick & Company, Incorporated 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.