Optivise Advisory Services LLC Takes Position in McCormick & Company, Incorporated (NYSE:MKC)

Optivise Advisory Services LLC bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,110 shares of the company’s stock, valued at approximately $256,000.

A number of other large investors have also recently made changes to their positions in MKC. Curio Wealth LLC purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at $30,000. Salem Investment Counselors Inc. boosted its stake in shares of McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock valued at $32,000 after purchasing an additional 336 shares during the period. Twin Tree Management LP purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at $33,000. Ameriflex Group Inc. purchased a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at $33,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $37,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Gregory Repas sold 2,750 shares of the company’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 transaction, the vice president now owns 2,266 shares in the company, valued at $184,497.72. This represents a 54.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Katherine Jenkins sold 7,642 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. Insiders have sold a total of 60,392 shares of company stock worth $4,898,101 over the last 90 days. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $72.94 on Wednesday. The company has a market capitalization of $19.56 billion, a PE ratio of 25.06, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.25 and a current ratio of 0.65. The company has a 50-day simple moving average of $74.50 and a two-hundred day simple moving average of $76.92. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced 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). The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.67%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business 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. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.47%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.86%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MKC shares. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Citigroup decreased their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, UBS Group started coverage on McCormick & Company, Incorporated in a report on Monday. They issued a “neutral” rating and a $83.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $84.13.

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.