Apeiron RIA LLC Boosts Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

Apeiron RIA LLC lifted its stake in McCormick & Company, Incorporated (NYSE:MKC) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,803 shares of the company’s stock after acquiring an additional 178 shares during the period. Apeiron RIA LLC’s holdings in McCormick & Company, Incorporated were worth $366,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new position in McCormick & Company, Incorporated in the 3rd quarter worth about $20,227,000. Hemenway Trust Co LLC boosted its position in shares of McCormick & Company, Incorporated by 71.5% in the third quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock valued at $11,552,000 after acquiring an additional 58,511 shares during the period. Oppenheimer & Co. Inc. grew its stake in McCormick & Company, Incorporated by 57.6% during the third quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after acquiring an additional 14,652 shares in the last quarter. Wellington Management Group LLP increased its holdings in McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock worth $11,500,000 after acquiring an additional 24,881 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in McCormick & Company, Incorporated during the 3rd quarter worth approximately $1,104,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $74.70 on Friday. The stock’s 50-day moving average is $76.65 and its 200 day moving average is $77.98. The stock has a market cap of $20.05 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 3.28 and a beta of 0.75. McCormick & Company, Incorporated has a 1-year low of $64.33 and a 1-year high of $85.49. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a dividend of $0.45 per share. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.22%.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 20,000 shares of company stock worth $1,565,850. Company insiders own 22.90% of the company’s stock.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price objective on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a report on Wednesday, January 15th. Finally, Bank of America upped their price objective on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.63.

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.