Reik & CO. LLC Has $29.21 Million Stock Holdings in McCormick & Company, Incorporated $MKC

Reik & CO. LLC reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 428,926 shares of the company’s stock after selling 11,430 shares during the period. McCormick & Company, Incorporated comprises 8.0% of Reik & CO. LLC’s holdings, making the stock its 5th largest position. Reik & CO. LLC’s holdings in McCormick & Company, Incorporated were worth $29,214,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MKC. Nuance Investments LLC acquired a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $15,388,000. WINTON GROUP Ltd raised its holdings in McCormick & Company, Incorporated by 76.9% in the third quarter. WINTON GROUP Ltd now owns 37,500 shares of the company’s stock valued at $2,509,000 after acquiring an additional 16,300 shares in the last quarter. Cibc World Market Inc. acquired a new stake in McCormick & Company, Incorporated in the third quarter valued at approximately $3,819,000. Envestnet Asset Management Inc. raised its holdings in McCormick & Company, Incorporated by 3.5% in the third quarter. Envestnet Asset Management Inc. now owns 878,886 shares of the company’s stock valued at $58,806,000 after acquiring an additional 29,418 shares in the last quarter. Finally, Strengthening Families & Communities LLC raised its holdings in McCormick & Company, Incorporated by 3,178.6% in the third quarter. Strengthening Families & Communities LLC now owns 33,048 shares of the company’s stock valued at $2,211,000 after acquiring an additional 32,040 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Monday, April 27th. TD Cowen cut their price target on McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. UBS Group cut their price target on McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating on the stock in a research note on Friday, March 20th. Stifel Nicolaus cut their price target on McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Finally, BNP Paribas Exane cut their price objective on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $64.27.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley bought 2,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were acquired at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the transaction, the director owned 2,906 shares of the company’s stock, valued at approximately $153,959.88. This trade represents a 220.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.2%

MKC opened at $46.26 on Monday. The business’s 50-day simple moving average is $52.74 and its 200-day simple moving average is $61.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $78.16. The stock has a market capitalization of $12.43 billion, a P/E ratio of 7.58, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s revenue was up 16.7% compared to the same quarter last year. Analysts anticipate that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 20th were given a dividend of $0.48 per share. The ex-dividend date was Monday, April 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.2%. McCormick & Company, Incorporated’s payout ratio is 31.48%.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.