McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 34.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,599 shares of the company’s stock after acquiring an additional 13,258 shares during the quarter. McCormick & Company, Incorporated accounts for approximately 1.9% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 24th biggest position. Savoir Faire Capital Management L.P.’s holdings in McCormick & Company, Incorporated were worth $3,934,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MKC. Vanguard Group Inc. boosted its stake in shares of McCormick & Company, Incorporated by 1.0% in the fourth 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 period. Geode Capital Management LLC boosted its position in McCormick & Company, Incorporated by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 6,024,666 shares of the company’s stock valued at $458,114,000 after buying an additional 137,679 shares during the period. Norges Bank purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at approximately $223,202,000. Invesco Ltd. grew its stake in shares of McCormick & Company, Incorporated by 17.6% in the fourth quarter. Invesco Ltd. now owns 2,641,812 shares of the company’s stock worth $201,412,000 after acquiring an additional 396,214 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of McCormick & Company, Incorporated by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,509,463 shares of the company’s stock worth $115,081,000 after acquiring an additional 46,411 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on MKC. Argus cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their target price for the company from $86.00 to $90.00 in a report on Wednesday, January 8th. Barclays lowered their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average price target of $83.14.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the sale, the director now owns 6,177 shares in the company, valued at $475,814.31. This represents a 81.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the transaction, the director now directly owns 247,437 shares of the company’s stock, valued at approximately $20,242,820.97. This represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 80,842 shares of company stock valued at $6,478,332. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Down 3.1 %

Shares of NYSE MKC opened at $75.23 on Wednesday. The stock has a market cap of $20.18 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The business has a 50-day moving average price of $79.50 and a 200 day moving average price of $78.23. 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 released 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 return on equity of 14.89% and a net margin of 11.73%. 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 business earned $0.63 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.39%. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

About McCormick & Company, Incorporated

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.