McCormick & Company, Incorporated (NYSE:MKC) Shares Acquired by Fenimore Asset Management Inc

Fenimore Asset Management Inc grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 0.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 751,723 shares of the company’s stock after acquiring an additional 3,407 shares during the period. Fenimore Asset Management Inc’s holdings in McCormick & Company, Incorporated were worth $61,874,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of McCormick & Company, Incorporated during the 4th quarter worth about $223,202,000. Select Equity Group L.P. purchased a new stake in McCormick & Company, Incorporated during the 4th quarter valued at approximately $104,863,000. Balyasny Asset Management L.P. boosted its holdings in shares of McCormick & Company, Incorporated by 47.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company’s stock valued at $216,771,000 after acquiring an additional 915,807 shares in the last quarter. Northern Trust Corp raised its stake in shares of McCormick & Company, Incorporated by 16.8% during the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock worth $281,573,000 after buying an additional 531,060 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of McCormick & Company, Incorporated by 88.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company’s stock worth $67,035,000 after buying an additional 412,074 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $74.22 on Monday. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The stock’s fifty day simple moving average is $74.70 and its 200-day simple moving average is $77.06. 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 stock has a market capitalization of $19.90 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 3.76 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business earned $0.63 EPS. McCormick & Company, Incorporated’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.86%.

Insider Transactions at McCormick & Company, Incorporated

In related news, VP Gregory Repas sold 2,750 shares of the 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 transaction, the vice president now directly owns 2,266 shares of the company’s stock, valued at approximately $184,497.72. This trade represents a 54.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the 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 completion of the transaction, 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. Insiders have sold 60,392 shares of company stock worth $4,898,101 over the last quarter. 23.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.14.

McCormick & Company, Incorporated Company 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.