Hudson Bay Capital Management LP Boosts Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Hudson Bay Capital Management LP boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 116.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 104,026 shares of the company’s stock after purchasing an additional 55,899 shares during the period. Hudson Bay Capital Management LP’s holdings in McCormick & Company, Incorporated were worth $7,931,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. International Private Wealth Advisors LLC increased its holdings in McCormick & Company, Incorporated by 3.9% during the 4th quarter. International Private Wealth Advisors LLC now owns 3,626 shares of the company’s stock valued at $276,000 after acquiring an additional 136 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in McCormick & Company, Incorporated by 2.8% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company’s stock worth $382,000 after acquiring an additional 137 shares during the last quarter. Empower Advisory Group LLC boosted its position in McCormick & Company, Incorporated by 1.7% during the fourth quarter. Empower Advisory Group LLC now owns 8,402 shares of the company’s stock worth $641,000 after acquiring an additional 138 shares during the last quarter. Bessemer Group Inc. grew its stake in McCormick & Company, Incorporated by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 43,002 shares of the company’s stock worth $3,278,000 after acquiring an additional 139 shares during the period. Finally, Hunter Associates Investment Management LLC grew its stake in McCormick & Company, Incorporated by 1.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 12,536 shares of the company’s stock worth $954,000 after acquiring an additional 153 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 0.2%

Shares of NYSE MKC opened at $76.10 on Monday. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The firm has a fifty day moving average of $78.03 and a 200-day moving average of $77.58. The stock has a market capitalization of $20.41 billion, a PE ratio of 25.97, a P/E/G ratio of 3.76 and a beta of 0.74. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.37%. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.86%.

Analyst Ratings Changes

MKC has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted 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 note on Friday, January 24th. Barclays lowered their target price 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. Finally, Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.14.

Insider Activity

In related news, VP Gregory Repas sold 2,750 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the transaction, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. The trade was a 54.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the transaction, the director now owns 247,437 shares in the company, valued at $20,242,820.97. The trade was a 16.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,842 shares of company stock valued at $6,478,332 in the last ninety days. Company insiders own 23.80% of the company’s stock.

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.