Puzo Michael J Increases Holdings in McCormick & Company, Incorporated (NYSE:MKC)

Puzo Michael J lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 13.6% during the first quarter, HoldingsChannel reports. The firm owned 76,003 shares of the company’s stock after purchasing an additional 9,096 shares during the quarter. McCormick & Company, Incorporated accounts for about 1.8% of Puzo Michael J’s investment portfolio, making the stock its 28th biggest holding. Puzo Michael J’s holdings in McCormick & Company, Incorporated were worth $6,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MKC. Curio Wealth LLC purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $30,000. Salem Investment Counselors Inc. raised its stake in McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock valued at $32,000 after acquiring an additional 336 shares during the period. Twin Tree Management LP purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at about $33,000. Ameriflex Group Inc. bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth about $37,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 value of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. The trade was a 16.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory Repas sold 2,750 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the transaction, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. This represents a 54.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,392 shares of company stock worth $4,898,101. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $72.94 on Wednesday. The company’s 50 day simple moving average is $74.50 and its two-hundred day simple moving average is $76.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.25. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The stock has a market capitalization of $19.56 billion, a PE ratio of 25.06, a P/E/G ratio of 3.72 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results 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 firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.67%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. Analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.47%. McCormick & Company, Incorporated’s payout ratio is currently 61.86%.

Analysts Set New Price Targets

MKC has been the topic of a number of recent research reports. UBS Group assumed coverage on shares of McCormick & Company, Incorporated in a research note on Monday. They set a “neutral” rating and a $83.00 price target on the stock. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, Citigroup cut their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus target price of $84.13.

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.