Mirabella Financial Services LLP Purchases New Position in McCormick & Company, Incorporated (NYSE:MKC)

Mirabella Financial Services LLP bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,440 shares of the company’s stock, valued at approximately $1,024,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Curio Wealth LLC bought a new stake in McCormick & Company, Incorporated during the 4th quarter worth $30,000. Albion Financial Group UT bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Twin Tree Management LP acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. Lee Danner & Bass Inc. acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $37,000. Finally, Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated in the 4th quarter valued at approximately $38,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $75.29 on Monday. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The company has a market cap of $20.19 billion, a P/E ratio of 25.69, a P/E/G ratio of 3.76 and a beta of 0.75. The firm has a 50-day moving average of $79.34 and a 200-day moving average of $78.04. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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 business had revenue of $1.61 billion during 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 revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business 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 $0.45 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.39%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective 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 cut their price objective on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and increased their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus price target of $83.14.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 2,266 shares in the company, valued at approximately $184,497.72. This trade represents a 54.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,842 shares of company stock worth $6,478,332. Insiders own 23.80% of the company’s stock.

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.