USA Financial Formulas Grows Stock Position in McCormick & Company, Incorporated (NYSE:MKC)

USA Financial Formulas increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 42.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,718 shares of the company’s stock after buying an additional 812 shares during the period. USA Financial Formulas’ holdings in McCormick & Company, Incorporated were worth $224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MKC. Curio Wealth LLC purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $30,000. Twin Tree Management LP purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $33,000. Ameriflex Group Inc. purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $33,000. Lee Danner & Bass Inc. purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $37,000. Finally, Parvin Asset Management LLC purchased a new position in McCormick & Company, Incorporated in the 4th quarter valued at about $38,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory Repas sold 2,750 shares of the 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 of the company’s stock, valued at $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 60,392 shares of company stock worth $4,898,101. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.0%

Shares of MKC stock opened at $75.58 on Thursday. The firm has a market cap of $20.27 billion, a P/E ratio of 25.79, a PEG ratio of 3.76 and a beta of 0.68. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The firm’s 50-day simple moving average is $74.46 and its 200-day simple moving average is $77.03.

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 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 company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.45 dividend. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.38%. McCormick & Company, Incorporated’s payout ratio is 61.86%.

Analyst Ratings Changes

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