USA Financial Formulas Grows Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

USA Financial Formulas raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 42.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,718 shares of the company’s stock after buying an additional 812 shares during the quarter. USA Financial Formulas’ holdings in McCormick & Company, Incorporated were worth $224,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of McCormick & Company, Incorporated by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 31,737,310 shares of the company’s stock valued at $2,419,653,000 after purchasing an additional 303,973 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company’s stock worth $458,114,000 after buying an additional 137,679 shares during the last quarter. Northern Trust Corp raised its holdings in shares of McCormick & Company, Incorporated by 16.8% in the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock worth $281,573,000 after buying an additional 531,060 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 10.2% in the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company’s stock worth $269,060,000 after buying an additional 326,041 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of McCormick & Company, Incorporated by 6.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company’s stock worth $245,114,000 after buying an additional 190,856 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Lawrence Erik Kurzius sold 50,000 shares of the company’s 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 directly owns 247,437 shares of the company’s stock, valued at $20,242,820.97. This represents a 16.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. Insiders have sold a total of 60,392 shares of company stock valued at $4,898,101 in the last ninety days. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Down 0.0%

Shares of MKC opened at $75.58 on Thursday. The stock has a market capitalization of $20.27 billion, a PE ratio of 25.79, a P/E/G ratio of 3.76 and a beta of 0.68. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. The company’s 50-day simple moving average is $74.46 and its 200-day simple moving average is $77.03.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently declared 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 of this dividend was Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.38%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

Wall Street Analysts Forecast Growth

Separately, Argus cut shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus price target of $83.14.

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.