Spring Capital Management LLC Buys 1,622 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Spring Capital Management LLC lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 61,088 shares of the company’s stock after buying an additional 1,622 shares during the period. McCormick & Company, Incorporated comprises about 2.7% of Spring Capital Management LLC’s holdings, making the stock its 18th largest position. Spring Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $5,028,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Curio Wealth LLC purchased a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth approximately $30,000. Twin Tree Management LP purchased a new stake in McCormick & Company, Incorporated in the fourth quarter worth $33,000. Ameriflex Group Inc. purchased a new stake in McCormick & Company, Incorporated in the fourth quarter worth $33,000. Lee Danner & Bass Inc. bought a new position in McCormick & Company, Incorporated in the fourth quarter worth $37,000. Finally, Parvin Asset Management LLC purchased a new position in McCormick & Company, Incorporated during the fourth quarter valued at $38,000. 79.74% of the stock is owned by institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total value of $223,905.00. Following the completion of the transaction, the vice president now owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82% 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, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,392 shares of company stock worth $4,898,101. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $73.45 on Tuesday. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $19.70 billion, a P/E ratio of 25.07, a PEG ratio of 3.76 and a beta of 0.74. The stock’s 50 day moving average is $75.38 and its 200 day moving average is $77.14.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, March 25th. The company reported $0.60 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 during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the company posted $0.63 earnings per share. The company’s revenue was up .2% on a year-over-year basis. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company 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 annualized dividend and a yield of 2.45%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.86%.

Analyst Ratings Changes

Separately, Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.