McCormick & Company, Incorporated (NYSE:MKC) Shares Purchased by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 116.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 104,026 shares of the company’s stock after acquiring an additional 55,899 shares during the quarter. Hudson Bay Capital Management LP’s holdings in McCormick & Company, Incorporated were worth $7,931,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $30,000. Albion Financial Group UT acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $33,000. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $33,000. Lee Danner & Bass Inc. acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $37,000. Finally, Rosenberg Matthew Hamilton acquired a new position in McCormick & Company, Incorporated in the 4th quarter worth $38,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $76.10 on Monday. The firm has a market cap of $20.41 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74. The firm’s 50-day simple moving average is $78.03 and its 200-day simple moving average is $77.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company earned $0.63 EPS. McCormick & Company, Incorporated’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.86%.

Insider Activity at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction dated 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 owns 2,266 shares of the company’s stock, valued at $184,497.72. This represents a 54.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 80,842 shares of company stock valued at $6,478,332 in the last quarter. Insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

MKC has been the topic of a number of recent analyst reports. 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 report on Friday, January 24th. Argus lowered shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Finally, Barclays cut their target price on shares of 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.14.

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.