ORG Wealth Partners LLC Makes New Investment in McCormick & Company, Incorporated (NYSE:MKC)

ORG Wealth Partners LLC acquired a new position in McCormick & Company, Incorporated (NYSE:MKC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 713 shares of the company’s stock, valued at approximately $59,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $223,202,000. Select Equity Group L.P. acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at $104,863,000. Balyasny Asset Management L.P. lifted its stake in shares of McCormick & Company, Incorporated by 47.5% during 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 during the period. Northern Trust Corp lifted its stake in shares of McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock valued at $281,573,000 after acquiring an additional 531,060 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of McCormick & Company, Incorporated by 88.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 879,260 shares of the company’s stock valued at $67,035,000 after acquiring an additional 412,074 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the stock in a transaction dated 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 sale, the vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katherine Jenkins sold 7,642 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. Insiders sold 60,392 shares of company stock worth $4,898,101 over the last ninety days. 23.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MKC has been the topic of several research reports. UBS Group initiated coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a “neutral” rating and a $83.00 price target on the stock. Argus downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, Citigroup dropped 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. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $84.13.

McCormick & Company, Incorporated Trading Down 0.3%

NYSE MKC opened at $72.98 on Friday. The stock has a 50-day simple moving average of $74.34 and a 200 day simple moving average of $76.82. The company has a market capitalization of $19.57 billion, a PE ratio of 25.08, a P/E/G ratio of 3.68 and a beta of 0.68. The company has a current ratio of 0.65, a quick ratio of 0.25 and a debt-to-equity ratio of 0.57. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data 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 net margin of 11.67% and a return on equity of 14.63%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the company posted $0.63 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Research 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. Shareholders 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 dividend yield of 2.47%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.86%.

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.