Malaga Cove Capital LLC Buys 3,199 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Malaga Cove Capital LLC grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 68.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,847 shares of the company’s stock after buying an additional 3,199 shares during the period. Malaga Cove Capital LLC’s holdings in McCormick & Company, Incorporated were worth $537,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 715.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 295,294 shares of the company’s stock valued at $20,204,000 after purchasing an additional 259,084 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. lifted its stake in McCormick & Company, Incorporated by 24.4% during the 4th quarter. Beacon Harbor Wealth Advisors Inc. now owns 25,900 shares of the company’s stock valued at $1,772,000 after acquiring an additional 5,086 shares during the period. Tower View Wealth Management LLC bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $656,000. New York Life Investment Management LLC boosted its holdings in shares of McCormick & Company, Incorporated by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 39,362 shares of the company’s stock valued at $2,693,000 after acquiring an additional 306 shares during the last quarter. Finally, ICW Investment Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 2.9% in the fourth quarter. ICW Investment Advisors LLC now owns 21,946 shares of the company’s stock worth $1,502,000 after acquiring an additional 612 shares during the period. 79.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MKC shares. Barclays raised their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. Citigroup lifted their price objective on McCormick & Company, Incorporated from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Wednesday, March 27th. Consumer Edge downgraded McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a report on Monday, January 22nd. Stifel Nicolaus boosted their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Two research 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 MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus target price of $77.88.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded up $0.31 during mid-day trading on Friday, reaching $75.45. The stock had a trading volume of 1,584,356 shares, compared to its average volume of 1,591,954. The business has a fifty day moving average of $72.40 and a 200 day moving average of $68.32. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 3.87 and a beta of 0.73. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.68 annualized dividend and a yield of 2.23%. McCormick & Company, Incorporated’s payout ratio is 64.12%.

Insiders Place Their Bets

In other news, insider Katherine Jenkins sold 1,726 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were 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 the SEC website. In other McCormick & Company, Incorporated news, Director Maritza Gomez Montiel sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $77.00, for a total transaction of $539,000.00. Following the completion of the transaction, the director now owns 5,594 shares in the company, valued at approximately $430,738. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Insiders sold 33,726 shares of company stock worth $2,504,728 in the last three months. 22.90% of the stock is owned by company insiders.

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.